Chronically Ill Individual
Under the law, a “chronically ill individual” is any person who has been certified by a licensed health care practitioner as meeting one of three tests.
The Complete Glossary on Long-Term Care
Explore clear, easy-to-understand definitions of the terms and concepts that shape long-term care planning. Whether you’re researching coverage options, care types, or planning terms, our glossary helps you make sense of the details so you can plan with confidence.
Term of the Day
Cognitive Impairment
Cognitive Impairment or cognitive loss describes when an individual starts to have problems remembering things be it a short-term or long-term memory. It also impacts a person’s ability to learn new things, the ability to concentrate or make decisions that affect an individual’s everyday life.
Categories
Topics
Care Types
Registered Nurse (RN)
A registered nurse (RN) maintains a leadership role, often coordinating, providing, and overseeing care services and patients within their jurisdiction.
Guaranty Association
The Guaranty Association is a state-mandated organization that protects policyholders in the event an insurance company becomes insolvent or is unable to fulfill its financial obligations.
Emotional Support
Emotional support is an empathetic and compassionate type of care that focuses on creating connections and improving emotional well-being.
Future Purchased Option (FPO)
A form of inflation protection in a Long-Term Care Insurance policy where the insured has the right to increase benefits periodically (e.g., every 3 years) to reflect increases in the cost of care.
Quote
A quote is a cost estimate for an insurance policy provided by the company.
Skilled Care
Skilled care is medical care or assistance provided by a registered nurse or professional therapist. Skilled care is usually provided within a licensed facility, such as a nursing home.
Companion Care
Companion care is when a caregiver provides emotional support and connection to an individual.
Post-Claim Underwriting
Post-claim underwriting occurs when an insurance company reevaluates a policy after a claim. They may raise the premium, change benefits, or cancel the policy altogether. Post-claim underwriting is illegal for federally qualified Long-Term Care Insurance policies.
Beneficiary
This is a named person, trust, or other legal entity which you can designate in a Long-Term Care Insurance policy to receive benefits from your policy after your death.
Reverse Mortgage
A reverse mortgage allows homeowners to convert part of their home equity to cash to pay for long-term care expenses.
Alzheimer's Disease
Alzheimer's disease is a common form of dementia. This disease affects a person's thinking, remembering, and functioning ability. Most people with Alzheimer's will need long-term care support.