What is a common waiting period before LTC policy benefits begin?

The common waiting period before long-term care (LTC) policy benefits begin is typically 90 days. This timeframe is often established to ensure that the policyholder has a sufficient duration of care before benefits are activated. In the long-term care insurance market, a 90-day elimination period is prevalent as it balances the needs of policyholders and the underwriting practices of insurers.

During this waiting period, the insured is responsible for any costs associated with long-term care services. This stipulation helps insurance companies manage risk and reduce the number of claims they receive shortly after a policy is purchased, while also providing a reasonable opportunity for policyholders to utilize their personal resources before the insurance kicks in.

While some policies may offer shorter or longer waiting periods, the 90-day period is a standard practice, reflecting the industry norm. This period allows claims to be processed and helps ensure that the benefits actually serve their intended purpose without premature activation.