Can anyone help me understand this?

julietegecy

Could anyone explain me what is difference between Stated Period Policy and Pool of Money in Long Term Care Insurance? Which one is better and what is it benefit?

Oscar_The_Grouch

Hi Julie,

Are these types of insurance available in the USA? This is a website from the UK, so I'm not sure anyone here will be able to offer you advice.

I googled "Pool of Money in Long Term Care Insurance" and got the following that may be of interest to you:

http://www.longtermcarelink.net/a9insurance.htm
http://www.longtermcarelink.net/a7insurancequotes.htm

I hope this helps, but as it's not my area of expertise I have no idea how accurate the information will be! Sorry!!

tessflores

Hi Julie

I was reading about Long Term Insurance Care and came across this site. I am copy - pasting lines from this article. I hope it helps you. I found it on
www dot longermcareinsuranceplanner dot net
They got pretty good information here. And yes, these types of insurance are available in USA.

Your policy will list a total dollar amount of benefit for over the stated term. In a stated period policy, your contract will only pay up to the number of years you selected no matter that you used less than the maximum benefits per day. A $100 per day policy for 5 years would end at 5 years even if the policy only paid $50 per day.

A pool of money policy is superior to the stated period policy. A pool of money policy will let you stretch the benefits years if you do not take out the maximum daily amount.
This option is usually referred to as the ‘maximum lifetime benefit amount’.
Indemnity Claims Payment – Under this option, the long term care insurance company will send you a check once a month for the maximum allowable daily, once you qualify for benefits. You don’t have to file claims for every expense.

julietegecy

Thanks to both of you for replying to my post.

Tess, you said you were pasting from article you found on that site. Could you please tell me where exactly can I find it?

tessflores

Sure!

Go to www dot longtermcareinsuranceplanners dot net , then click on "LTC Policy Benefits" (on extreme right hand side, first topic under "About the Policy"). It discusses all about it.

or you can check the URL

www [dot] longtermcareinsuranceplanners [dot] net [/] benefits [dot] html

_Andy_

Spam spam spam

payless

yes looks like spam from from Tess , but me thinks from Juliet also ( same person ?)