Long Term Care Vs Accelerate Death Benifit

Discussion in 'Ask The Agents' started by nini, Jun 24, 2015.

  1. nini
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    nini New Member

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    hi everyone. Do any one can help me distinguish between the long term care vs accelerate dealth benefit. Which one is better option? Is long term care usually include the accelerate death benefit?
    Do national life group they have long term care or they just have accelerate death benefit?

    Please advise. Thank you so much
     
  2. FRJ
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    FRJ Super Genius

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    For starters, the accelerated death benefit is simply one way of you getting paid on your life insurance policy before you actually kick the bucket. How that benefit is triggered depends on the policy, e.g. terminal illness is the most common one that would make the ADB eligible to be used. Some policies offer the ADB with chronic or critical illnesses as the triggers. You have to make sure that you find out about the qualifying specifics.

    Long Term Care is specifically for helping pay for services (e.g. skilled nursing care or assisted living) that you would need with the loss of your independence. Traditionally, benefits are triggered when you meet 2 of the 6 Activities of Daily Living requirements. Those are:
    -Bathing
    -Dressing
    -Eating
    -Transferring
    -Continence
    -Toileting

    Cognitive impairment is another situation that would also trigger most LTC benefits.

    Good luck!
     
  3. John Galt
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    John Galt Guru

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    Great well thought out answer.
     
  4. nini
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    nini New Member

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    LTC and ADB which one is more important for most of people? Is that National Life they have Long term care with ADB together in their policy? normally Is that LTC is also include Accelerate Death Benifit
     
  5. CALTCAgent
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    CALTCAgent Guru

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    Depends on your situation and what you are trying to accomplish. You really should speak with an LTC agent that can go over all of your options.

    If you are asking if LTC insurance versus an acceleration of benefit rider, you need to look at the particular rider, the cost and triggers to benefits.

    You generally get more LTC protection with LTC insurance versus acceleration of death benefit riders such as LTC/Chronic illness/Etc.

    If you are talking about traditional LTC, then no. If you mean a rider on a life policy, yes.

    They do not have traditional LTC. It is an acceleration of benefit rider. I believe a chronic illness rider and not sure if they still have the LTC rider.
     
  6. nini
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    nini New Member

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    ;) thank you so so much. your answer really helpful to me :)
     
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