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Re: 30 Day policy acceptance period

Posted by Klaas DeWit, LPT, MBA on November 04, 2002 at 12:52:31:

In Reply to: 30 Day policy acceptance period posted by CAROLE on November 04, 2002 at 11:31:46:

Carole,
Congrats on doing your 'homework' and meeting with so many agents and companies.

Prudential is a great company, and have offered LTC insurance since 1999. They offer a cash benefit rider, meaning you can receive benefits as a cash benefit, rather than a reimbursement, like most other companies do.

Be aware that Prudential requires you to use a Home Health agency when needing home care. This may be more expensive and thus exhausts your daily benefit faster. Some companies allow you to either use your own people, but if you want you can still use an agency. Besides a financial aspect, using your own people (neighbors...) allwos you to use people you already know and trust, very important when you need care.

I think you have a good plan, just be aware that $120 per day benefit in Ohio may not be quite enough for a nursing home care and you still may have to use some of your savings.

Klaas

Follow Ups:

Re: 30 Day policy acceptance period : Carole, : Congrats on doing your 'homework' and meeting with so many agents and companies. : Prudential is a great company, and have offered LTC insurance since 1999. They offer a cash benefit rider, meaning you can receive benefits as a cash benefit, rather than a reimbursement, like most other companies do. : Be aware that Prudential requires you to use a Home Health agency when needing home care. This may be more expensive and thus exhausts your daily benefit faster. Some companies allow you to either use your own people, but if you want you can still use an agency. Besides a financial aspect, using your own people (neighbors...) allwos you to use people you already know and trust, very important when you need care. : I think you have a good plan, just be aware that $120 per day benefit in Ohio may not be quite enough for a nursing home care and you still may have to use some of your savings. : Klaas

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