91 37% 12:02 PM Fri Jul 31 26. Ricardo has been in and out of rehab because of his addiction to alcohol, some of his stays lasting for months. Will Ricardo's LTCI policy cover his repeated institutionalization? a. Yes, because it is a chronic condition. b. No, because LTCI insurance doesn't pay for any sort of rehabilitation. c. Yes, because there is a legitimate long-term need. od. Probably not, because treatment for drug or alcohol addiction is an exclusion in most LTCI policies. 27. Which LTCI policy feature prevents the insurer from terminating the policy, raising the rates, or making changes in any provisions based on the health of the insured while the policy is in force? a. restoration of benefits provision b. nonforfeiture provision oc. guaranteed renewability provision Od. return of premium provision 28. A few years ago, Gary purchased a long-term care partnership policy. He had paid a total of $7,000 in premiums when he made claim for benefits. The policy paid out its full $200,000 benefit. If Gary needs to turn to Medicaid for continued payment of his long-term care costs, how much of his assets will be protected from the spend-down requirement due to his partnership policy? a. $7,000 ob. $193,000 c. $200,000 od. $207,000 29. All of the following statements regarding today's long-term care partnership programs are true EXCEPT: a. they are intended to help alleviate the financial burden on state Medicaid programs b. they require that individuals purchase a qualified long-term care partnership policy c. they are designed to protect all of an individual's assets and income from the Medicaid spend-down requirement O d. they do not guarantee that an individual who purchased a 91 37% 12:02 PM Fri Jul 31 26. Ricardo has been in and out of rehab because of his addiction to alcohol, some of his stays lasting for months. Will Ricardo's LTCI policy cover his repeated institutionalization? a. Yes, because it is a chronic condition. b. No, because LTCI insurance doesn't pay for any sort of rehabilitation. c. Yes, because there is a legitimate long-term need. od. Probably not, because treatment for drug or alcohol addiction is an exclusion in most LTCI policies. 27. Which LTCI policy feature prevents the insurer from terminating the policy, raising the rates, or making changes in any provisions based on the health of the insured while the policy is in force? a. restoration of benefits provision b. nonforfeiture provision oc. guaranteed renewability provision Od. return of premium provision 28. A few years ago, Gary purchased a long-term care partnership policy. He had paid a total of $7,000 in premiums when he made claim for benefits. The policy paid out its full $200,000 benefit. If Gary needs to turn to Medicaid for continued payment of his long-term care costs, how much of his assets will be protected from the spend-down requirement due to his partnership policy? a. $7,000 ob. $193,000 c. $200,000 od. $207,000 29. All of the following statements regarding today's long-term care partnership programs are true EXCEPT: a. they are intended to help alleviate the financial burden on state Medicaid programs b. they require that individuals purchase a qualified long-term care partnership policy c. they are designed to protect all of an individual's assets and income from the Medicaid spend-down requirement O d. they do not guarantee that an individual who purchased a
