Indemnity Model policies pay the insured person a flat amount regardless of the amount of the insured person's qualified long term care expenses.
Indemnity Example 1
Judy purchases an Indemnity Long-Term Care Insurance Policy with coverage of $150 per day. Judy later needs Home Health Care services and the cost is $80 per day. Judy's Indemnity insurance coverage would pay her $150 per day of service even though her expenses are only $80. Judy can use the extra $70 in any way she sees fit.
Indemnity Example 2
Len purchases an Indemnity Long-Term Care Insurance Policy with coverage of $150 per day. Len later needs Home Health Care services and the cost is $200 per day. Len's Indemnity insurance coverage would pay him $150 per day of service even though his expenses are $200. Len would be financially responsible for the extra $50.
*The case study results are for illustrative purposes only and should not be deemed a representation of past or future results. This example does not represent any specific product, nor does it reflect sales charges or other expenses that may be required.