Disability Insurance Training

The following resources below are available FREE for your use and cover the basic and intermediate training levels of Disability and Long Term Care insurance. Complete the training below and then join Broker Services!

Glossary of LTC Definitions

Basic Terminology

Elimination Periods

The elimination period for a Long Term Care policy is the waiting period between the time a benefit triggering event occurs and when benefits become eligible to be paid.
This period can be compared to the deductable on a health insurance contract but instead of being measured in dollars it is measured in days.

The elimination period can be counted either in “days of service” or “calendar days” With “days of service”, in order for the day to count towards satisfying the elimination period, the insured must receive some type of qualified service.  With “Calendar day” elimination period, from the day the benefit triggering event happens, each day after counts towards satisfying the elimination period. 

Guaranteed Renewable

All Long Term Care policies are Guaranteed Renewable contracts. As long as the client pays their premiums the policy will renew each year.  The Premiums for these policies are not however guaranteed and the Insurance Company does reserve the right to raise premiums.

Premiums can be paid out for the life of the policy or the Insured can chose to go with an Accelerated Premium Option. 10-pay, paid to age 65 or reduced premium at age 65 are examples of Accelerated premium options available.


There are riders common to Long Term Care policy and following we will give you a general description of these riders.  Each company may include all or some of these as well as have slightly different variations of them. All riders are provided at an additional premium.  Please contact our office for specific details

Inflation Rider

This rider helps the value of the policy keep up with inflation allowing for annual increases to in the monthly maximum and total maximum benefit for as long as the policy remains in force.  These increases are credited annually on each policy anniversary depending on the inflation option chosen.

Compound Increase

The monthly and total maximum benefit increases each year by a specified percentage of the previous year’s amounts.

Simple Inflation Rider

The monthly and total maximum benefit increases each year by a specified percentage of the original year’s amounts.

Compound Two Times Cap

The monthly and total maximum benefit increases each year by a specified percentage of the previous year’s amount until both double.

Shared Care Rider

This rider allows spouses to have access to the others benefits in the event that one uses the total benefit in their policy as long as at least the equivalent of 24 months remains.

Shared Waiver of Premium

This allows spouses to both have premiums waived on their policies in the event one goes on claim.

Restoration of Benefits

If benefits are received from the policy and then the Insured recovers and is no longer eligible for benefits for a specified period, this rider restores the benefits to the policy as if no benefits had ever been paid.

Survivorship Benefit

for couples who have each had a long term care policy for a specified number of years, when one dies, no further premiums are required for the duration of the survivor’s coverage.

Return of premium

this rider returns premium to a designate beneficiary if the policy has been in force for a specified period of time and the Insured dies.  There are a couple of variations of this rider.  Please call our office for details.

Nonforfeiture benefit

Lets the Insured keep some protection under the policy should the policy lapse after a specified period. This benefit provides a reduced, paid-up benefit.

Explanation of Discounts

Most Long Term Care policies offer discount in premium:

  • Live in or spousal discounts are available if either both partners are issued policies or if only one applies and is issued a policy. (Discount percentages in both situations vary by company)
  • Association discounts are available for a group that meets the requirements of an association (discount percentages vary by company)
  • Worksite discounts are available for employers and employees of a common workplace (discount percentages and guidelines vary by company)
  •  A Preferred Health discount is available in some cases for preferred health status

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