What is a “Partnership Qualified Policy”? Partnership Qualified Policy = A type of policy that allows you to protect (keep) some of your assets if you apply for Medicaid after using your policies benefits. Not all states have these...
Tax-Qualified Long-Term Care Insurance Policy = A policy that conforms to certain standards in federal law and offers certain federal tax advantages. Source: National Association of Insurance Commissioners A Shopper’s Guide to Long-Term Care Insurance 2009...
Long-Term Care Insurance Dictionary $ Cash Benefit a feature in a long-term care insurance policy that allows the policy benefits to be used by the policyholder in any way he/she chooses. A “cash benefit” is often used to pay a family member to...