[Health Insurance] 35, Benefit Triggers and Activities of Daily Living
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
In this episode you will learn:
The two primary triggers for activating benefits in a tax-qualified long-term care policy.
That an insured must be unable to perform exactly two of the six Activities of Daily Living (ADLs).
The six official ADLs are: Bathing, Dressing, Toileting, Transferring, Continence, and Eating.
How to spot common exam traps that use Instrumental Activities of Daily Living (IADLs) like cooking or shopping as incorrect answer choices.
That a severe cognitive impairment is an alternative trigger, and a licensed health care practitioner must certify any qualifying condition.
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