Insurance Solutions for Chronic Illness: Plan Well, Live Better

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    As with health insurance, it is important to evaluate what coverage long-term care insurance will provide to determine adequacy. The following set of questions should help you evaluate long-term care policies. Answer each question based on the content of the plan materials you have in writing, and make notes. Are daily benefit amounts based on an indemnity (meaning that a specific amount is stated) or on reimbursement of amounts charged? Reimbursement policies are more likely to provide the range...Read More
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    One type of insurance product that can help cover a chronic illness or disability and can still be obtained regardless of pre-existing condition is large group “catastrophic” or “excess” major medical. After a high deductible has been met (usually about $25,000 or $50,000), this product will provide good coverage for a given condition. Do not be put off by the high deductible. These deductibles are not ordinarily measured by the amount that the beneficiary of the policy pays out of pocket—instead...Read More
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    As you are evaluating disability insurance, some questions you should ask include: How much does it cost? The best way to lower the premium usually is to extend the initial waiting period before payment begins. How long will benefits be paid? Consider especially whether the definition of disability changes at some point so that benefits may actually become disputed. Also look for a benefit period that will cover you until at least age 65, or older if your Social Security retirement age is raised....Read More

Meet the Expert!

Laura Cooper

Laura Cooper graduated from the University of Washington  Law  School  in 1986.  She has been a practicing attorney for the past sixteen years, including two as counsel to the Chairman of the Interstate Commerce Commission in Washington, D.C.  She is a nationally-recognized expert in disability law as well as an expert consultant on life planning for people with chronic diseases and disabilities. Ms. Cooper was teaching science on an Indian reservation when she first experienced gait problems,...

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