Selected from 121 policies, 110 features
(Note: you can select any or all policies and any or all features to compare.
Here we chose 4 of the 121 policies and 74 of the 110 features.)
|
ABC Life Co Best Care 300 |
Reliable Life Preferred 200 |
Perpetual Life P7988 |
XYZ Insur. Super Select |
|
|
Issue Ages |
40-85 |
18- |
30-84 |
50-84 |
|
Premium Classes |
Standard |
Preferred, Standard |
Standard, Rated |
Select, Standard |
|
Tax Qualified |
No |
Yes |
Yes |
No |
|
Rate Guarantee |
No |
5 years |
No |
3 years |
|
Spousal Discount |
15% |
10% |
25% |
10% |
|
Discount for unmarried couples |
No |
No |
Yes |
No |
|
Nursing Home Daily Benefit Range |
$50-$200 |
$40-$250 |
$50-$300 |
$60-$200 |
|
Indemnity or cost reimbursement |
Indemnity |
Reimburse |
Reimburse |
Reimburse |
|
Benefit period (yrs) |
2,3,5,L |
1,2,3,4,L |
3,6,L |
3,5,L |
|
Elimination periods, nursing home (days) |
20,60,90,180 |
0,20,100 |
30,60,90 |
0,30,90 |
|
Accumulation periods |
No |
3X elim per |
730 days |
Care period |
|
One-time elimination |
No |
Yes |
Yes |
No |
|
Premium waiver wait |
90 days |
12 days |
0 |
90 days |
|
Wait begins with care or benefits |
Care |
Care |
Benefits |
Care |
|
Joint premium waiver |
Yes |
No |
No |
No |
|
Bed reservation (days) |
21 |
14 |
30 |
21 |
|
Surviving spouse paid up |
Rider |
Yes |
No |
No |
|
Years held for paid up |
10 |
7 |
N/A |
N/A |
|
Spousal benefit transfer |
No |
No |
Rider |
No |
|
Alternate plan of care |
No |
Yes |
Yes |
Yes |
|
Must be on claim for APC |
NA |
No |
Yes |
No |
|
Percent of NH benefit for Assisted living Facility |
Indemnity |
80% of HHC DB |
50% |
100% |
|
Home health care |
Rider |
Policy |
Separate Policy |
Policy |
|
Homemaker covered |
Yes |
No |
Yes |
Yes |
|
Informal care |
No |
Rider |
No |
Yes |
|
Adult day care % of HHC |
100% |
50% |
80% |
100% |
|
Respite care days/yr |
15 at 50% |
0 |
15 at 100% |
21 at 100% |
|
Hospice care % of HHC |
100% |
50% |
0 |
60% |
|
Medical Equipment |
No |
Under APC |
50xHHCDB |
Under APC |
|
Medications |
Up to NHDB |
No |
$60/month |
No |
|
Caregiver training |
3x DB |
$300 lifetime |
No |
5x DB |
|
Home care % of NH |
50,100% |
50,80% |
chosen separately |
0,50,100% |
|
Copayment |
20% for HHC |
None |
None |
20% in ALF |
|
Home care $ benefit |
% of NH |
% of NH |
$40-$200 |
% of NH |
|
Home care indemnity/Reimbursement |
Indemnity |
Reimburse |
Reimburse |
Indemnity |
|
Home/Facility benefit pooled |
Yes |
Yes |
No |
No |
|
Home care benefit periods |
Same as NH |
Same as NH |
1,2,3 |
2,3 |
|
Home care elim periods |
0,20 days |
Same as NH |
20,60 days |
0,30 days |
|
Home care premium waiver |
No |
Yes |
Yes |
No |
|
Wait for prem waiver |
NA |
12 |
0 |
NA |
|
Wait begins with care/benefits |
NA |
Care |
Benefits |
NA |
|
Medical necessity covered |
NH & HHC |
No |
No |
HHC |
|
ADL's for nursing home |
2/5 |
3/6 |
2/6 |
2/5 |
|
ADL's for home care |
1/5 |
2/6 |
2/6 |
2/5 |
|
Is mobility an ADL |
No |
Yes |
No |
Yes |
|
Need for supervision included in definition of ADL limitation |
No |
No |
Yes |
No |
|
Non-organic mental illness covered |
No |
No |
Yes |
No |
|
Waiting period for pre-existing conditions |
3 mos |
0 |
6 mos |
0 |
|
Lookback period |
3 mos |
0 |
6 mos |
0 |
|
Simple inflation protection |
5% |
5% |
No |
5% |
|
Compound inflation protection |
5% |
5% |
5% |
5% |
|
Future purchase option |
No |
No |
No |
Can raise DB 15% every 3 yrs |
|
Care Management |
Optional, chosen by insurer |
None |
Required, choose from insurer list |
Optional, toll-free # advises on providers |
|
Restoration of benefit |
Rider |
No |
Yes |
No |
|
Return of premium on lapse |
Yes |
No |
No |
No |
|
Percent of premium returned |
20-100% |
NA |
NA |
NA |
|
Other non-forfeiture |
No |
Benefit Acct |
Benefit Acct |
Reduced Paid-up |
|
Contingent non-forfeiture |
No |
Yes |
Yes |
No |
|
Pays "Reasonable/Customary" vs actual charges |
No |
No |
Yes |
No |
|
Care outside U.S. covered |
Canada |
Canada |
Territories |
Possessions |
|
Paid-up options |
5,10,20yr |
None |
1 payment |
None |
|
Max $ benefit, 4yr policy |
$146,000 |
$142,350 |
$164,250 |
$109,500 |
|
Premium for $100 DB, 4 yrs, 100 day elim, $50 HHC, no inflation |
||||
|
Age 60 |
$710 |
$525 |
$750 |
$400 |
|
Age 65 |
$1090 |
$890 |
$1188 |
$973 |
|
Age 70 |
$1560 |
$1310 |
$1895 |
$1422 |
|
Age 75 |
$2122 |
$1947 |
$2288 |
$1899 |
|
Premium: $100DB, lifetime, 20day elim, $100HHC, compound inflation |
||||
|
Age 60 |
$2662 |
$2060 |
$2917 |
$1860 |
|
Age 65 |
$3413 |
$2820 |
$3397 |
$2530 |
|
Age 70 |
$4627 |
$4130 |
$3932 |
$3650 |
|
Age 75 |
$6343 |
$6450 |
$5464 |
$5900 |
|
Premium Increase since 1/1/95 |
42% |
No |
No |
28% |
|
Standard & Poors rating |
AAA |
A |
AA |
A |
|
Moody rating |
A |
Aa |
Baa |
Ba |
|
State Differences |
Not available as of 6/30/02 in AL AK CA CO MA ME MD MI NH NJ NY RI VT WA WI. Simple infl protect N/A in AZ OH IN. |
Available as of 6/30/02 in FL IL IN KY MO MT ND NE OH OK PA SC SD TN TX VA WY. Non-forfeiture offered in FL. No 1 year benefit period in FL. No simple inflation in IN. |
As of 6/30/02, HHC rider available in DC DE FL GA ID IL IA KY MO MT NE NV OH SD WY. |
Available as of 7/7/02 in CA GA IA KS MA MD MN MT NC ND PA TN VA WA WI. Rates differ in MT ND PA TN WI. Return of premium N/A in GA MT ND PA WA. 2/7 ADLs in CA. |
|
Comments |
Payment for care by family member or for home modifications may be approved by Care Coordinator. Premium A is with 100% HHC since no 50% HHC option. Waiver of premium applies to ALF. |
Spousal discount applies to older spouse only. Care by family or friends paid at 80% of homemaker rate in area. Bed reservation applies to ALF. |
None |
Max HHC ben period is 3 yrs; premium A is for 4 yr NH/3 yr HHC and premium B is for lifetime NH/3 yr HHC. Waiver of premium applies after 90 days in ALF. |