Make sure to include Cognitive Impairment coverage in your Long Term Care Insurance

Today’s blog post continues the series about buying long term care insurance as a strategy for planning ahead for long term care.  My post of May 22, 2014 discussed whether to buy long term care insurance at all.  My post of May 29, 2014 suggested looking for a stable, proven insurer.  My post of June 5, 2014 described how to identify a proven, stable Long Term Care insurance company.  My post of June 12, 2014 discussed the importance of protection against inflation. My post of June 19, 2014 suggested planning to use insurance to pay for four or five years of long term care.  My post of June 22, 2014 suggested a daily rate to choose when purchasing long term care insurance.  My post of July 10, 2014 advised to look carefully at the list of Activities of Daily Living that can trigger coverage from the long term care insurance policy.  My post of July 17, 2014 described the differences between a “period of time” kind of coverage and a “pile of money” kind of coverage.  The introductory post in the series on planning ahead for long term care costs appeared on May 15, 2014.

Today’s post will discuss Cognitive Impairment coverage.

More and more seniors who need long term care need it because of Alzheimer’s disease or some other form of dementia.  It would be terrible to find out when you need long term care that your long term care insurance doesn’t cover non-physical ailments.

Remember, insurance companies will pay out on policies when the policy terms require payment.  The policy is a contract, and insurance companies will honor their contracts.  (Undoubtedly, some will be more cooperative than others.)  At the same time, insurance companies won’t (and shouldn’t) pay out for claims that aren’t within the contract.  As a result, you can’t assume that every long term care insurance policy that you consider will cover long term care costs no matter the reason that the insured needs care.

Before buying coverage, make sure that the policy covers long term care costs associated with cognitive impairment.

For more information, visit Jim’s website.

Jim Koewler’s mission is
“Protecting Seniors and People with Special Needs.”

For help with long term care or with planning for someone with special needs,
call Jim, or contact him through his website.

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