It\u2019s hard to say for sure if you will need long-term care, but looking into it sooner rather than later may enable you to make decisions while you still can. It\u2019s harder to make good, well-thought-out plans after you\u2019ve had a heart attack or a stroke. <\/p>\n\n\n\n
Many people think about getting genetic testing \u2013 especially if there is some hereditary disease or issue in their family tree. Just be forewarned, you can be turned down for LTC insurance based on the results of genetic testing you may have had performed. <\/p>\n\n\n\n
What Your LTC Rider in Washington is Likely to Cover <\/h2>\n\n\n\n
If you qualify to receive benefits, your LTC insurance rider will typically cover the following categories of services as long as they are delivered in a setting deemed appropriate by Washington regulators: <\/p>\n\n\n\n
- Diagnostics\u00a0<\/li>
- Preventive care\u00a0<\/li>
- Therapeutic care\u00a0<\/li>
- Health maintenance<\/a>\u00a0<\/li>
- Personal care\u00a0<\/li><\/ul>\n\n\n\n
In order to use your LTC benefits,\u00a0the state of Washington requires you to be unable to perform at least two of the listed activities of daily living (ADLs) without help. Those activities include being able to move and walk independently, able to feed yourself, able to select the appropriate clothing and put it on, bathe and groom appropriately, control\u00a0bladder\u00a0and bowel function and use the toilet appropriately. There is a lesser list of activities that may indicate a person needs help with daily life, including going shopping and managing transportation, and managing finances, housecleaning, communication, and medication.\u00a0<\/p>\n\n\n\n
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<\/figure><\/div>\n\n\n\nHow to Get an LTC Rider in Washington with Your Life Insurance Policy <\/h2>\n\n\n\n
If you\u2019re interested in making sure that your life insurance policy includes LTC coverage when you might need it, the most critical step is to bring this need to the attention of your insurance agent. <\/p>\n\n\n\n
In the state of Washington, a life insurance policy must be structured in a certain way for a benefit to be considered an actual LTC insurance rider. According to the Office of the Insurance Commissioner<\/a> (OIC), the rider must \u201cpay a benefit dedicated to cover long-term care services\u2026as opposed to a lump sum or payment to be used at the discretion of the insured.\u201d <\/p>\n\n\n\n
In other words, it must be clearly spelled out that the policy payout is to be used strictly for long-term care. <\/p>\n\n\n\n
There are two other similar kinds of life insurance riders that the OIC does not recognize as being the same as LTC riders. These are known as an accelerated death benefit and the critical illness rider. Both share a common trait with the LTC benefit in that meeting the qualifications of each can result in the policyholder being able to take a withdrawal of cash benefits from the policy while still living. Unlike the LTC rider, those who have either of these other two can qualify for withdrawal after failing to perform one ADL without assistance rather than two or more. <\/p>\n\n\n\n
You can also get separate insurance coverage for long-term care. Ask your agent to explain the respective advantages of purchasing an add-on or a separate policy for the service. <\/p>\n\n\n\n
Discuss Your Options with Your Washington Insurance Agent <\/h2>\n\n\n\n
Is it confusing? It can be. But with the odds at around 70 percent that an American who is 65 years old today will need long-term care at some point in their life, the costs and details of such an add-on should be explored. <\/p>\n\n\n\n
That\u2019s why you need to discuss LTC with your insurance agent. At\u00a0Vern Fonk Insurance<\/a>, we\u2019re here to act as your advisor as you search for insurance of various kinds for yourself and your loved ones. Simply call us at\u00a0(800)\u00a0455-8276<\/a>\u00a0or\u00a0go online<\/a>\u00a0to get a quote for quality life insurance with an LTC rider or visit us at one of\u00a0our\u00a0offices<\/a>.\u00a0<\/p>\n\n\n\n
<\/div>\n\n\n\n - Personal care\u00a0<\/li><\/ul>\n\n\n\n