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Book Helps With Policy Purchases.

In his newest book, Long-Term Care Insurance Made Simple, Les Abromovitz provides some pointers about selecting a long-term-care policy. As former regional insurance manager for the Pennsylvania Insurance Department, he counseled consumers on long-term-care insurance issues and investigated agents for fraud and misrepresentation. Among his recommendations are that a policy should:

* specifically cover Alzheimer's disease but not necessarily personality disorders, nervous conditions and other mental problems;

* not require a prior hospitalization to qualify the insured for benefits; and

* address inflation, either through an inflation rider or--less desirable--an option to buy more coverage on a guar anteed-issue basis at market rate.

Abromovitz advises consumers to consider lengthening the elimination period, the time a policyholder must wait before benefits begin, to make a policy more affordable. Guaranteed-renewable policies cannot be canceled, and rates can rise only if state regulators approve the increase for everyone in the same rate class.

And when shopping for the best deal, always compare prices of identical coverages, especially with regard to elimination periods, daily benefits and benefit durations, he advised.
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Title Annotation:Long-Term Care Insurance Made Simple
Comment:Book Helps With Policy Purchases.(Long-Term Care Insurance Made Simple)
Publication:Best's Review
Article Type:Brief Article
Geographic Code:1USA
Date:Jan 1, 2000
Previous Article:Certification Program Created For Long-Term-Care Advisers.
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