Long Term care Insurance Quiz! Trivia

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Long Term care Insurance Quiz! Trivia - Quiz


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 medical care. This quiz seeks to help see how much you know about the benefits, acquisition, and need.


Questions and Answers
  • 1. 

    How will having long term insurance benefit you?

    • A.

      You can get the quality care you need.

    • B.

      You can maintain your independence.

    • C.

      It can relieve financial stress and caregiving burdens from those around you.

    Correct Answer(s)
    A. You can get the quality care you need.
    B. You can maintain your independence.
    C. 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.

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  • 2. 

    There is a _____ chance that you will needlong term care after the age of 65.

    Correct Answer(s)
    70%, 70, seventy, seventy percent
    Explanation
    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.

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  • 3. 

    A home health aid costs ____ per hour.

    Correct Answer(s)
    $20, 20, twenty, twenty dollars
    Explanation
    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.

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  • 4. 

    How much can a private nursing home range from per year?

    • A.

      $40,000 - $60,000

    • B.

      $60,000 - $ 80,000

    • C.

      $80,000 - $100,000

    • D.

      $100,000 - $120,000

    Correct Answer
    C. $80,000 - $100,000
    Explanation
    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.

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  • 5. 

    Many people think their health insurance or a government program will cover it.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    Many people believe that their health insurance or a government program will provide coverage for their healthcare expenses. This assumption is often based on the understanding that health insurance policies or government programs are designed to assist individuals in managing their healthcare costs. However, it is important to note that the extent of coverage and eligibility criteria may vary depending on the specific insurance plan or government program. Therefore, while it is true that many people think their health insurance or a government program will cover their healthcare expenses, it is essential to carefully review the terms and conditions of the policy or program to determine the actual coverage provided.

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  • 6. 

    A good time to buy long term care insurance is when you are in your 40 to 50’s.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    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.

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  • 7. 

    How will many people end up paying for long term care insurance?

    • A.

      Savings Account

    • B.

      Retirement Fund

    Correct Answer(s)
    A. Savings Account
    B. Retirement Fund
    Explanation
    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.

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  • 8. 

    How can you buy long term care insurance?

    • A.

      Your employer

    • B.

      An association

    • C.

      A membership group

    • D.

      An agent

    Correct Answer(s)
    A. Your employer
    B. An association
    C. A membership group
    D. An agent
    Explanation
    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.

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  • 9. 

    Long term care is paid for extended nursing care when a person can not live independently and needs hospitalization.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    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.

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