Long term care insurance different from long term disability insurance

April 19, 2012

The names are very similar, but the differences between long term care insurance and long term disability insurance are great.

Long term care insurance is a new benefit for Purdue. It provides coverage when a person needs substantial assistance with two or more "activities of daily living" or ADLs. These include things such as eating, dressing and moving from a bed to a chair. The person may receive care in his or her own home or at a facility, such as an assisted living residence or a nursing home.

Long term disability insurance helps replace lost income when a person cannot work because of disability. It's been part of the Purdue benefit program for many years.

The initial long term care (LTC) insurance benefit enrollment, which ends April 30, offers coverage with no medical underwriting for most Purdue employees. "The guaranteed acceptance for long term care insurance -- regardless of health status -- is an opportunity that we don't expect to have again," says Susan M. Davis, a benefits manager in Human Resources.

Genworth Life Insurance Company underwrites Purdue's long term care insurance benefit.

Live presentations, including time for questions and answers, have been offered throughout the initial LTC enrollment period. Final presentations are:

* Monday (April 23). 1:30-2:30 p.m. and 3:30-4:30 p.m. Stewart Center, Room 318.
* Tuesday (April 24). 8- 9 a.m. and 10- 11 a.m. Stewart Center, Room 322.

Webinars may be accessed via the HR website at these times:
* Thursday (April 26). 10-11 a.m.
* Thursday (April 26). 2-3 p.m.

Other resources include:

* Genworth website: www.genworth.com/groupltc (group ID = Purdue, access code = groupltc)
Includes user-friendly online enrollment, plus tools to weigh costs and options.
 
* Genworth phone assistance: 800-416-3624
Provides customer service staff to answer questions. Also, those who don't want to enroll online may call this number to request a paper enrollment application.

* "Beyond Dollars," research findings on the circle of care and the impact on the many people within it. http://www.genworth.com/content/etc/medialib/genworth_v2/pdf.Par.65700.File.pdf/Beyond%20Dollars%20FINAL%20109048_093010_secure.pdf

* Purdue Benefits website: www.purdue.edu/benefits
Offers information about options and who's eligible for coverage. Also provides the full meeting and webinar schedule and frequently asked questions. 

Those enrolling in long term care insurance will have 30 days from the date their certificate arrives by mail to further consider their decision to participate. If they decide not to participate, they may cancel their certificate during the 30-day period and receive a full refund of any premium they have paid.