What is a Peril?
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The thing that causes the bad event.
What is the Incontestability Clause?
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A: Prevents policy challenges after 2 years for mistakes.
Why is Inflation Protection important in LTC insurance?
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It ensures benefits keep up with rising care costs
What does the Waiver of Premium Rider do?
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Stops premium payments if you're disabled.
What is a 1035 Exchange?
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Switching policies without paying taxes.
What is Medicare?
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A federal health program for people 65+ and those with disabilities.
Are annuity withdrawals taxable?
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, The interest earned is taxable; the principal is not.
What is Term Life Insurance?
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Insurance for a set period with no savings.
What is a Co-Pay?
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A fixed fee you pay for specific services (e.g., doctor visits).
What does a PPO offer?
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Flexibility to use out-of-network providers.
What is the Life Income Option?
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Give this one a try later!
The thing that causes the bad event.
What is the Incontestability Clause?
Give this one a try later!
A: Prevents policy challenges after 2 years for mistakes.
Why is Inflation Protection important in LTC insurance?
,Give this one a try later!
It ensures benefits keep up with rising care costs
What does the Waiver of Premium Rider do?
Give this one a try later!
Stops premium payments if you're disabled.
What is a 1035 Exchange?
Give this one a try later!
Switching policies without paying taxes.
What is Medicare?
Give this one a try later!
A federal health program for people 65+ and those with disabilities.
Are annuity withdrawals taxable?
Give this one a try later!
, The interest earned is taxable; the principal is not.
What is Term Life Insurance?
Give this one a try later!
Insurance for a set period with no savings.
What is a Co-Pay?
Give this one a try later!
A fixed fee you pay for specific services (e.g., doctor visits).
What does a PPO offer?
Give this one a try later!
Flexibility to use out-of-network providers.
What is the Life Income Option?
Give this one a try later!
