Asset Care is the original hybrid long term care policy, first sold over 30 years ago. Asset Care is the only hybrid long term care policy that will provide you with Lifetime Unlimited long term care insurance benefits.
One may also ask, how does asset care work?
Asset Care will reimburse you tax-free for qualified expenses for all levels of care including home care, assisted living, adult day care, hospice, and nursing home care. Additionally, expenses for supportive equipment, caregiver training, and care coordination are also covered.
Herein, how long do you pay for long term care insurance?
Under most policies, you’ll have to pay for long-term care services out of pocket for a certain amount of time, such as 30, 60 or 90 days, before the insurer starts reimbursing you for any care. This is called the “elimination period.”
What is an asset based policy?
Asset Based Long Term Care Definition
Asset based long term care insurance is a life insurance policy. It allows you to leverage your death benefit to pay for nursing care costs. Normally, life insurance pays a death benefit to your beneficiaries when you pass away.
What is a cob rider?
Continuation of Benefits. (COB) Deep Dive. OneAmerica® Care Solutions offers a Long-Term Care Continuation of Benefits (COB) rider to extend the length of your protection from a few years to your entire lifetime.
What is Lincoln Moneyguard?
Lincoln Moneyguard is a universal life insurance policy with a long-term care rider that will reimburse you for qualified long term care expenses. Reimbursement long term care insurance policies will require you to submit receipts.