Long Term care Insurance Quiz! Trivia
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Many people think their health insurance or a government program will cover it.
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True
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False
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Here is the Long Term Care Insurance Quiz. Taking up the insurance is a way of preventing the burden of the cost incurred when a risk occurs on a client's side. When one takes out long term care insurance, they are guaranteed care when they go to a nursing home, and it covers the services they get there, such as See moremedical care. This quiz seeks to help see how much you know about the benefits, acquisition, and need.
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- 2.
A good time to buy long term care insurance is when you are in your 40 to 50’s.
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True
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False
Correct Answer
A. TrueExplanation
Buying long term care insurance in your 40 to 50's is generally considered a good time because it allows you to secure coverage at a younger age when premiums are typically lower. Additionally, purchasing the insurance at this stage ensures that you are more likely to qualify for coverage as you may not have developed any health issues or pre-existing conditions that could make it difficult to obtain insurance later in life. By purchasing long term care insurance in your 40 to 50's, you can protect yourself financially in the event that you require long term care services in the future.Rate this question:
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- 3.
How much can a private nursing home range from per year?
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$40,000 - $60,000
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$60,000 - $ 80,000
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$80,000 - $100,000
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$100,000 - $120,000
Correct Answer
A. $80,000 - $100,000Explanation
Private nursing homes can range from $80,000 to $100,000 per year. This range indicates the average cost of care in a private nursing home, which can vary depending on factors such as location, amenities, and level of care provided. It is important to note that this is just an average range, and costs can be higher or lower depending on individual circumstances.Rate this question:
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- 4.
How will many people end up paying for long term care insurance?
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Savings Account
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Retirement Fund
Correct Answer(s)
A. Savings Account
A. Retirement FundExplanation
Many people will end up paying for long term care insurance through their savings account and retirement fund. These two options provide individuals with the necessary funds to cover the costs of long term care insurance. By utilizing their savings account and retirement fund, individuals can ensure that they have the financial means to pay for the insurance and receive the necessary care in the long term.Rate this question:
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- 5.
There is a _____ chance that you will needlong term care after the age of 65.
Correct Answer(s)
70%, 70, seventy, seventy percentExplanation
The given answer options all represent the same value, which is 70% or seventy percent. The question is asking about the likelihood of needing long-term care after the age of 65, and the correct answer suggests that there is a 70% chance of requiring such care. This indicates that there is a significant probability of individuals needing long-term care as they age.Rate this question:
- 6.
How will having long term insurance benefit you?
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You can get the quality care you need.
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You can maintain your independence.
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It can relieve financial stress and caregiving burdens from those around you.
Correct Answer(s)
A. You can get the quality care you need.
A. You can maintain your independence.
A. It can relieve financial stress and caregiving burdens from those around you.Explanation
Having long term insurance can benefit you in multiple ways. Firstly, it ensures that you can get the quality care you need without worrying about the expenses. This insurance coverage can help you maintain your independence by providing the necessary support and resources for your care. Additionally, it can relieve financial stress and caregiving burdens from your loved ones, as they won't have to bear the financial responsibility of your long-term care.Rate this question:
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- 7.
How can you buy long term care insurance?
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Your employer
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An association
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A membership group
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An agent
Correct Answer(s)
A. Your employer
A. An association
A. A membership group
A. An agentExplanation
Long term care insurance can be purchased through various channels, including your employer, an association, a membership group, or an agent. Your employer may offer long term care insurance as part of their employee benefits package. Similarly, associations and membership groups may provide access to long term care insurance plans for their members. Finally, an agent can help you navigate the options available in the market and assist in purchasing a suitable long term care insurance policy.Rate this question:
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- 8.
A home health aid costs ____ per hour.
Correct Answer(s)
$20, 20, twenty, twenty dollarsExplanation
The given correct answer states that a home health aid costs $20 per hour. This implies that the hourly rate for a home health aid is $20, which is the cost that needs to be paid for their services. The answer also provides alternative ways of expressing the cost, such as "20", "twenty", and "twenty dollars", all of which convey the same meaning.Rate this question:
- 9.
Long term care is paid for extended nursing care when a person can not live independently and needs hospitalization.
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True
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False
Correct Answer
A. FalseExplanation
The statement is false because long term care refers to a range of services provided to individuals who have chronic illnesses or disabilities and need assistance with daily activities. It is not limited to extended nursing care or hospitalization. Long term care can be provided in various settings such as nursing homes, assisted living facilities, or even in a person's own home.Rate this question:
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Quiz Review Timeline (Updated): Mar 21, 2023 +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Mar 21, 2023Quiz Edited by
ProProfs Editorial Team -
Apr 17, 2016Quiz Created by
Hburt16
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