[SVL] Insurance 21

The type of care that provides assistance with the activities of daily living performed by unskilled helpers is known as
A. home health care
B. custodial care
C. adult day care
D. intermediate care

All of the following are activities of daily living EXCEPT
A. toileting
B. eating
C. dressing
D. working

An insured must receive care for a stated number of days before a long term care policy can pay benefits. This time deductible is known as the

A. waiting period
B. enrollment period
C. benefit period
D. elimination period

All of the following are exclusions in long term care insurance policies EXCEPT

A. drug abuse
B. mental illness
C. Alzheimer's
D. self-inflicted injuries

All of the following statements regarding tax treatment of long-term care insurance are true
ЕХСЕРТ
A. employers who pay long-term care insurance premiums on behalf of their employees may deduct them as a business expense
B. employer paid premiums are tax deductible to employees
C. premiums paid by self-employed people are tax deductible up to an age-based limit
D. benefits received from a qualified long term care insurance plan are received income tax free up to a certain amount

Marketing standards for long-term care policies require a free look period of?
A. 15 days
B. 45 days
C. 60 days
D. 30 days

The elimination period may be thought of as a

A. time co-payment
B. dollar amount co-payment
C. dollar amount deductible
D. time deductible

Which of the following is NOT considered an
activity of daily living?

A. Bathing
B. Transferring
C. Dressing
D. Driving

All of the following are levels of facility based long-term care EXCEPT
A. adult day care
B. custodial care
C. skilled nursing care
D. intermediate care

Benefit amounts in a long-term care policy are usually expressed as
A. dollars per year
B. dollars per day
C. dollars per quarter
D. dollars per month

All of the following are optional benefits in a
long-term care insurance policy EXCEPT

A. inflation protection
B. nonforfeiture benefits
C. guaranteed insurability
D. elimination period

Which of the following is excluded in a long-term care insurance policy?
A. Dementia
B. Nervous disorder without organic cause
C. Mental illness with organic cause
D. Alzheimer's disease

All of the following statements about a nonqualified long-term care insurance policy are true EXCEPT
A. premiums are not deductible
B. HIPPA prohibits the sale of these policies
C. benefits are taxed as income
D. they do not receive favorable tax treatment

Medical or rehabilitative care performed on an intermittent basis is known as
A. home health care
B. custodial care
C. intermediate care
D. adult day care

Individuals that need assistance from time to
time but can live more independently than
people who need custodial care may need

A. respite care
B. intermediate care
C. home health care
D. assisted living care

In regards to underwriting considerations of long-term care policies, the key decision is based on
A. whether an individual can perform the activities of daily living
B. family and personal health history
C. current occupation
D. marital status