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Assume that Julie purchased a long-term care policy with a 5-year benefit period. The policy provides a daily benefit of $200 using a pool-of-money concept,
Assume that Julie purchased a long-term care policy with a 5-year benefit period. The policy provides a daily benefit of $200 using a pool-of-money concept, with an elimination period of 60 days. The policy is tax-qualified (meets HIPAA requirements). The policy does not have an inflation rider. How will Julie qualify for benefits under the policy?
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Julie will qualify for benefits under the longterm care policy after satisfying the elimination period and meeting the eligibility criteria outlined i...
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Intermediate Financial Management
Authors: Eugene F. Brigham, Phillip R. Daves
11th edition
978-1111530266
