Topic: Can anyone help me understand this?

Could anyone explain me what is difference between Stated Period Policy and Pool of Money in Long Term Care Insurance? Which one is better and what is it benefit?

This message was edited 1 time. Last update was at 18/12/2009 09:29:43

I was reading about Long Term Insurance Care and came across this site. I am copy - pasting lines from this article. I hope it helps you. I found it on

www dot longermcareinsuranceplanners dot net

Your policy will list a total dollar amount of benefit for over the stated term. In a stated period policy, your contract will only pay up to the number of years you selected no matter that you used less than the maximum benefits per day. A $100 per day policy for 5 years would end at 5 years even if the policy only paid $50 per day.

A pool of money policy is superior to the stated period policy. A pool of money policy will let you stretch the benefits years if you do not take out the maximum daily amount.
This option is usually referred to as the ‘maximum lifetime benefit amount’.
Indemnity Claims Payment – Under this option, the long term care insurance company will send you a check once a month for the maximum allowable daily, once you qualify for benefits. You don’t have to file claims for every expense.

thanks for the link and explaining these terms. Could you please tell where exactly on site you found this information?

Sure!

Go to www dot longtermcareinsuranceplanners dot net , then click on "LTC Policy Benefits" (on extreme right hand side, first topic under "About the Policy"). It discusses all about it.

or you can check the URL

www [dot] longtermcareinsuranceplanners [dot] net [/] benefits [dot] html

Thanks tessflore, for the informative link. This site (longtermcareinsuranceplanners dot net) seems to have some good information.

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