Page 125 - Ebook health insurance IC27

Sashi Publications

 This product is still in the development stage in the developed markets
 In India the market for LTC plans is yet to be developed.
 However due to change in the market condition and status of nuclear families these

products will gain popularity in future.

Categories of long-term care costs

 Personal care costs

 Living costs

 Housing costs

Type of LTC plans

Pre-funded plans
This is somewhat like a pension plan. The insured pays the premium for this policy when
he is healthy.
 Premium can be paid for a certain period of a lifetime.
 The benefit payable under the policy is dependent on the claim definition.
 The benefit payable is dependent on activities of daily living
 The premium varies with the definition used and in case of more restrictive definition

premium is less the chances of claim reduces.

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