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Long Term Care - Coggle Diagram

- - - - Level
      - Increasing
- - - - ADLs
      - Defined by insurer
      - Cognitive degeneration
  - - - Potential death benefit
    - - Based on policyholder health at outset
        
        And appropriate nursing home

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Long Term Care

Care in own home

Premium

Benefit

Type

Types

Indemnity

Certain Needs

Guaranteed Income

Level

Increasing

Death Benefit

Single

Regular

Pre-funded

Purchased in expectation of long term care

Protect against future disability

Funded by single or regular prem

Claim Trigger

ADLs

Defined by insurer

Deferred Period

Contract Type

Periods

Waiting Period

Cognitive degeneration

Unit-Linked

Without-Profits

Location

Nursing home

Care in own home

Immediate needs

Added as rider benefit

I.e. on pension product

Benefit is regular payment

Purchased by those who need cover immediately

Funded by single premium

Based on policyholder health at outset

And appropriate nursing home

Potential death benefit

Usually paid to care provider