NU Online News Service, Sept. 30, 2:46 p.m. – CNA Financial Corp., Chicago, has introduced the CNA Group Long Term Care Insurance Plan for the Federal Community.
CNA is aggressively promoting the policy as an alternative to the official federal employee LTC insurance program.
CNA is offering the policy to active and retired federal government employees and their spouses and partners.
Features include a home health care benefit that pays 100% of the amount paid for nursing home care; a choice of a 30-day or 90-day "calendar day" waiting period; a 10% discount for spouses or partners who also buy an LTC policy; and training and payments for relatives who will be providing in-home care.
Optional features include return of premium at death; a shared lifetime maximum rider; and a flexible care benefit.
The policy will be available with what CNA describes as "simplified underwriting" until March 31, 2003.
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