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In this section, you will focus your attention on long-term care insurance. You will learn specific terms and definitions, policy components and features, and the ways to issue long-term care contracts. After completing this section, you should know the coverages available in long-term care insurance, and be able to explain major regulations that apply to long-term care policies.
| Term | Definition |
|---|---|
| Activities of daily living (ADLs) | A person's essential activities that include bathing, dressing, eating, transferring, toileting, continence |
| Benefits triggers | Criteria that must be met in order to be eligible for benefits |
| Good faith | Honest or sincere intent |
| Guaranteed renewable | A policy that is written on a noncancellable basis with the right to renew guaranteed |
| Suitability | A requirement to determine if an insurance product or an investment is appropriate for a particular customer |
Terms to Know