Whether you have just purchased it for yourself or for an aging parent, it’s important to understand the factors involved in a long-term care insurance policy and when it will pay out. Long-term care insurance is a solid option to support or to stand in line with a general healthcare plan. The term “trigger” refers to an event that activates the need for long-term care, such as difficulty with an activity of daily living or a cognitive impairment. 

The elimination period refers to the time that a patient must wait before benefits officially kick in. This usually means self-payment for care if some kind of care is absolutely necessary. Make sure you understand the elimination period so that you or a loved one are not counting on insurance picking up the tab only to learn that self-pay is necessary in the interim.