General Electric Financial Long Term care Insurance
Some LTC Insurance Highlights
GE's Long Term Care Division provides LTC insurance for more than 845,000 policyholders.
From 12/01/74 through 12/31/02, GE Financial has paid over $1.7 billion in LTC claims.
*Long Term Care Products:
Privileged Choice
Priveleged Choice pays you for covered care received in your home or in your community, assister care facilities (including Alzheimer's facilities), and in nursing homes. Priveleged Choice provides either shared or individual covereage. A Shared policy holds great appeal for couples, while single people will benefit from an individual policy.
GE will pay you for actual expenses incurred for the covered care and srvices below, up to 100% of a monthly maximum that you choose. Benefits are payable right away, without an elimination period.
Skilled Services
Nursing care and physical, occupational, respiratory and speech therapy from licensed proffesionals.
Home Health Aides and Personal Care Attendants
Help with personal hygiene, simple health care tasks, activities of daily living and managing medications.
Homemaker Services
Assistance with preparing meals, doing laundry and light house cleaning, such as vacuuming, mopping and washing dishes.
Chore Services
Help with minor household repairs, taking out the garbage and other related tasks that help ensure your safety at h ome. These do not need to be performed by a trained individual.
Hospice Care
Care provided to relieve your physical and emotional discomforts in your home or in a licensed or certified facility, if you become terminally ill.
Adult Day Care
A Program of social and health-related services provided during the day in a community group setting ourside your home.
The following features and benefits may also be available:
- Caregiver Training
- Equipment and home modification
- 30-day Free Look - If you are not completely satisfied with your policy, return it within 30 days of receipt for a full refund.
- Alternate Care Benefit - GE pays you for additional care, services, treatment, equipment, supplies or other items not otherwise covered in your policy that will be helpful to you.
- Respite Care - If your primary, unpaid caregiver needs to take a temporary break, GE pays facility care and/or home and community care coverage benefits for the covered care you receive during that time.
- Waiver of Premium - GE will waive your premiums for each coverage month that begins:
- when you're receiving benefits for home care in accordance with a Priveleged Care Coordinator's Plan of Care
- after satisfying the elimination period if you are receiving either facility care or home and community care coverage benefits without a Priveleged Care Coordinator's Plan of Care.
- International Coverage - If you receive covered care and support services in a qualified nursing home that is not in the United States, you will be reimbursed for out-of-country nursing home care expenses, up to 75% of your monthly maximum for up to 48 months. However, premiums will not be waived and no other policy benefits will apply while you are out of the country.
- Premium Stability - While GE reserves the right to raise future premiums for all policyholders by state and class, the company will never increase the premiums due to changes in health status or age.
- Guaranteed Renewable - Once you are insured, as long as you pay your premiums on time and your benefits have not been exhausted, your coverage is guaranteed renewable and cannot be canceled by GE.
- Protection Against Policy Lapse - If your policy lapses, GE will reinstate if if, within 7 months after the lapse, you received care or services that would have been covered had the policy not lapsed, provided taht you pay and past due premiums.
- Late Payment Protection - To help assure that your policy does not lapse by mistake, you may designate another person to be notified by GE if your premium payment is not received on time.
- Survivorship Benefit - For couples who have each had long term care coverage with survivorship benefits with GE for at least 10 years, when one dies, no further premiums will be required for the duration of the survivor's coverage.
Classic Select
Classic Select is a flexible long term care insurance policy. It gives you the option to choose an array of additional benefits on top of the standard Classic Select plan.
This plan has most of the same features as the Priveleged Choice Plan. Both plans vary from state to state. Information on both plans can be found at gefinancial.com
*Not all services covered in every state. Check GE's long-term care insurance plans for your individual state gefinancial.com.