Death Benefit
A death benefit is a large amount of money paid to one's loved ones or beneficiaries after the insured individual passes away.
The Complete Glossary on Long-Term Care
Explore clear, easy-to-understand definitions of the terms and concepts that shape long-term care planning. Whether you’re researching coverage options, care types, or planning terms, our glossary helps you make sense of the details so you can plan with confidence.
Term of the Day
Alzheimer's Disease
Alzheimer's disease is a common form of dementia. This disease affects a person's thinking, remembering, and functioning ability. Most people with Alzheimer's will need long-term care support.
Categories
Topics
Care Types
Arthritis
Arthritis is a term used to describe significant joint pains or diseases.
Intermediate Care Facility
This is care for stable conditions requiring daily but not 24-hour nursing supervision. This type of care is often following a hospital stay or surgery and reduces the time spent in a hospital.
Substantial Assistance
Tax-qualified Long-Term Care policies require a policyholder to need "substantial assistance" in performing at least two activities of daily living in order to receive benefits. "Substantial Assistance" is defined as either "hands-on assistance" or "standby assistance".
Actuarial Certification
An actuarial certification is a formal recognition that a Long-Term Care Insurance company's premiums meet federal standards.
Case Management/Care Management/Care Coordinator
Many Long-Term Care Insurance policies provide professional assistance to develop a plan of care and help family members find providers and services based on the person’s needs and preferences.
Dressing
Dressing is an activity of daily living that refers to one’s ability to select and put on clothing.
Co-Insurance
This is the concept of sharing the cost of future long-term care services and supports with an insurance company. It refers to the amount of money that the insured must pay out-of-pocket to make-up the difference between their actual costs and the amount the policy covers.
Minimum Asset & Income Allowance (Medicaid)
Otherwise known as the Community Spouse Resource Allowance, or "CSRA," is the amount of countable assets a spouse is allowed to hold without disqualifying an individual from Medicaid.
Custodial Care
This is the type of long-term care service most people will require. when they need long term health care services. This is nonmedical help and assistance for an individual who requires either hands-on or standby assistance with activities of daily living.
Facility Only Policy
A Long-Term Care policy where benefits are only paid if the policyholder is receiving care in a licensed facility, e.g. a Nursing Home or Assisted Living Facility.
Indemnity Benefit
This is a fixed amount of money paid to a policyholder when care is received, regardless of the cost of care. A policy with a $100 a day Indemnity Benefit will pay $100 a day for each day you qualify for care regardless of the expense incurred.