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A good standard
to use is the National Association of Insurance Commissioners
(NAIC) model laws and regulations. They recommend the following:
- At least
one year of nursing home or home health care coverage, including
intermediate and custodial care. Nursing home or home health
care benefits shouldn't be limited primarily to skilled care.
- Coverage
for Alzheimer's
disease.
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- An inflation
protection option.
- An "outline
of coverage" that systematically describes the policy's
benefits, limitations and exclusions, and also lets you compare
it with others.
- A guarantee
that the policy cannot be canceled, non-renewed, or otherwise
terminated because you get older or suffer deterioration in your
physical or mental health.
- The
right to return the policy within 30 days after having received
it for a full premium refund, if after having received the policy,
you decide that you do not want it.
- No requirement
that policyholders:
- First be hospitalized in order to receive nursing home benefits
or home health care benefits,
- or -
- First receive skilled nursing home care before receiving intermediate
or custodial nursing home care,
- or -
- First receive nursing home care before receiving benefits for
home health care.
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