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Marien purchased a long-term care (RC) policy 13 years ago. The policy allows for a monthly benefit of $1,500 payable for the full duration of
Marien purchased a long-term care (RC) policy 13 years ago. The policy allows for a monthly benefit of $1,500 payable for the full duration of a qualifying claim. Worried about the increasing cost of care, Marien added the cost-of-living adjustment (COLA) rider to the policy, which allows for an annual 3% increase in the monthly benefit payable while on ciain Less than two years aga Marien suffered a stroke and started to receive benefits from this policy. Presently, he is in the 19 th month of his daim. What is the current amount of monthly benefit that Marien is receiving under his LTC policy? a) $1,500. b) $1,545. c) $1,591.35. d) $2,138.64. Marien purchased a long-term care (RC) policy 13 years ago. The policy allows for a monthly benefit of $1,500 payable for the full duration of a qualifying claim. Worried about the increasing cost of care, Marien added the cost-of-living adjustment (COLA) rider to the policy, which allows for an annual 3% increase in the monthly benefit payable while on ciain Less than two years aga Marien suffered a stroke and started to receive benefits from this policy. Presently, he is in the 19 th month of his daim. What is the current amount of monthly benefit that Marien is receiving under his LTC policy? a) $1,500. b) $1,545. c) $1,591.35. d) $2,138.64
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