{"id":12057,"date":"2020-07-13T11:26:33","date_gmt":"2020-07-13T15:26:33","guid":{"rendered":"https:\/\/lifehappens.org\/?page_id=12057"},"modified":"2021-02-26T14:35:03","modified_gmt":"2021-02-26T19:35:03","slug":"when-does-a-long-term-care-insurance-policy-start-to-pay-for-care","status":"publish","type":"page","link":"https:\/\/lifehappens.org\/long-term-care-insurance-101\/when-does-a-long-term-care-insurance-policy-start-to-pay-for-care\/","title":{"rendered":"When does a long-term care insurance policy start to pay for care?"},"content":{"rendered":"

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A tax-qualified long-term care insurance policy begins to pay benefits when someone suffers from cognitive impairment and\/or is unable to perform two of the six activities of daily living.<\/p>\n

Before that happens, however, a policyholder must first meet the elimination period. You can think of the elimination period as a deductible measured in time instead of money. It\u2019s a waiting period between when an illness or disability begins and when you start receiving benefits.<\/p>\n

During the elimination period, you are responsible for covering any expenses related to your care. Most long-term care insurance policies have an elimination period that lasts 30, 60 or 90 days. By choosing a longer elimination period, you may be able to lower your premium costs.<\/p>\n

Some of today\u2019s long-term care insurance policies also come bundled with life insurance coverage (or an annuity). This means you get two important coverages in one policy: life insurance coverage that offers your loved ones financial support if you were to pass away or long-term care coverage if a chronic illness or disability required you to need long-term care. Learn more about the benefits of these hybrid policies<\/a>.<\/p>\n

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What Triggers Long-Term Care Benefits<\/h2>\n

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It\u2019s always best to read over your individual long-term care policy to understand the exact conditions that trigger long-term care benefits.<\/p>\n

That said, the tax-qualified long-term care policies sold today start to pay when the elimination period is met and one of the two following criteria are met:<\/p>\n