LTC policy geared for baby boomers.
John Hancock Life Insurance Co. has introduced a long-term-care
insurance policy, Leading Edge, designed to reduce the expense and
complexity of buying, and to address the needs of baby boomers See generation X. . The
product has built-in, compound inflation protection linked to the
Consumer Price Index and a benefit period of five years. If the pool of
money runs out, Hancock makes available an additional $1 million. Other
benefits include caregiver care·giv·er
n.
1. An individual, such as a physician, nurse, or social worker, who assists in the identification, prevention, or treatment of an illness or disability.
2. support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , total homemaker services
and additional stay-at-home services, such as payments for home
modifications Home Modification
Alterations made to a home to meet the needs of people with physical limitations so they can live independently (to some degree) and safely. Examples of home modifications include removing throw rugs to prevent slips and falls, installing grab bars in the bathroom , medical equipment, caregiver training, home safety checks
and medical alert systems.
COPYRIGHT 2007 A.M. Best Company, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
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