There are different types Long Term Care Insurance Policies. “Indemnity” or “Expense Incurred” policies are most common. When you buy an expense incurred policy, you choose the benefit amount. Regardless of what you spend an “indemnity” or “per diem” policy pays up to a fixed benefit amount. An “indemnity” or “per diem” policy reimburses for the actual expenses for services received up to a fixed dollar amount per day, week, or month.

“Integrated Policies” or policies with “Pooled Benefits” pay a total dollar amount which may be used for different kinds of long term care services used. There is usually a daily, weekly, or monthly dollar limit for long term care expenses covered by this kind of policy. For example you buy a policy with a maximum benefit amount of $300,000 of pooled benefits. You will have, with this policy a maximum daily benefit of $300 that would last for 1,000 days if you spend the maximum daily amount on care. If your care costs less than the maximum daily amount of $300 you will receive benefits for more than 1,000 days.

According to where benefits are paid Long Care Insurance Policies are divided into three broad categories – Home Care Only, Nursing Home and Residential Care Facility Only and Comprehensive. Home Care Only policies cover care in your own home or a community setting. It does not cover care in Assisted Living Facilities or Nursing Homes. It includes benefits for home health, adult day health care, hospice, respite care, personal care and homemaker services.

Nursing Home and Residential Care Facility Only policies cover care in a nursing home or any place that provides assisted living care as long as this place is licensed as a Residential Care Facility for the Elderly (RCFE). The benefit of this kind of policy is not the payment for room and board in these facilities. The policy benefits include coverage of all long term care services you receive in either of these facilities up to the policy’s maximum daily benefit amount.

Small neighborhood homes also called board and care facilities, retirement homes and specialized community facilities providing care for patients with cognitive impairment (dementia) from Alzheimer are some of the RCFE. The assisted living benefits must equal to at least 70% of the nursing home care benefit with this kind of policy.

The Comprehensive Long Term Care Insurance Policies cover costs rising out of care in a nursing home, assisted living facility, home care and community care (adult day care). LTC Comprehensive policies sold by different companies require different criteria to be met before benefits can be paid. When you are unable to perform two activities of daily living (such as bathing, using the bathroom, dressing eating etc.) or you have a cognitive condition that requires supervision, Comprehensive Long Term Care Insurance Policy will pay you the benefits. Whether care is provided in a nursing home, at your own home or in an assisted living facility the criteria required for the benefits remains as described above.

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Although you may already have medical insurance, your policy may not cover you while you are living abroad. You should get a thorough examination by your doctor. Expat life insurance and expat health insurance is important to have when planning a trip to a foreign country. Update your vaccines and ask your doctor if there are any other precautions you should take.

Expatriate medical insurance covers almost any medical treatment while you are away. Most health facilities in under developed countries are not as efficient as in the US, leaving you at their mercy. If there is a medical emergency, having a policy that includes a medical evacuation option is in your best interest.

Along with expat health insurance, you should also get expat life insurance. Protect your family from excessive medical bills by getting this insurance. You should check with your local white pages to get a list of companies that deal with this type of insurance. Be sure to compare rates and insurance plans.

Getting expatriate medical insurance isn’t all you need to do to protect yourself. Before you go, you should find out as much as you can about the country you are staying in. Use bed nettings and medicines to ward off sicknesses such as malaria and other intestinal diseases.

If you have a pre-existing condition, check your expat health insurance plans carefully. Some plans will not cover these conditions. Compare different policies and call the insurance provider with any questions you may have.

Expat insurance can be purchase if you are planning a trip for one week. It can also be purchased if you plan to be away for a few years. Every family situation is different so be sure you review all the different plans available. You can ask the insurance company for their suggestions about which plan will suit you best.

Check out and compare rates and policies. Know where you are going and what the health risks are before choosing the right expatriate insurance. Protect your family in case of death by getting expatriate life insurance. Preparing for the unexpected will help.

Ray Sandeo frequently writes about expatriate insurance

Precision Senior Marketing (PSM) is currently offering direct contracts to independent senior insurance agents who wish to add the Forethought Medigap product to their portfolios. PSM is a full-service, national insurance marketing organization, and is proud to be an exclusive distributor of the Forethought Medicare supplement. With the release of several new Medicare supplement products last year, PSM experienced rapid growth. In addition to PSM, the new carriers to market also had to grow and hire new staff to meet the exploding demand for their Medigap products, as their expectations were exceeded. PSM expects the Forethought Medicare supplement to generate the same level of activity and production upon its release.

In addition to offering a new Medicare supplement product, Forethought is also offering a new final expense. The two new products will be a part of a “combo-app” process whereby agents can sign up consumers for both products in one application. This combo-app will simplify and speed-up the application process for independent senior insurance agents. The new Forethought final expense product offers superior features compared to competing final expense products, and even Forethought’s older final expense product. For more information about either product, agents are encouraged to contact Precision Senior Marketing at 1-800-998-7715 or at info@psmbrokerage.com.

Forethought Financial Group was established in 1985 and now meets the needs of more than 2 million policyholders. With over $4 billion in assets, more than $5.6 billion of life insurance and annuity business in force, and nearly $1 billion in annual revenue Forethought’s financial strength is solid and is able to offer stability to its customers.

Forethought continues to grow and prosper even during these rough economic times. And though the Forethought Medicare supplement is only available in ten states right now, Forethought expects to expand its offering to other states, as the company is licensed to sell in 49 states, the District of Columbia, and Puerto Rico. Agents can check http://www.psmbrokerage.com for the latest Forethought Medicare supplement release information.

Learn more about the Forethought Medicare Supplement, and Forethought Medigap at Alex Stone’s website.