Ohio Insurance Laws and Regulations Practice Exam

What is the minimum benefit period that must be offered by a long-term care policy?

1. 6 months

2. 12 months

3. 18 months

4. 24 months

The correct answer is: 12 months

A long-term care policy is designed to provide coverage for an extended period of time for individuals who require assistance due to illness or disability. Option A, 6 months, is too short of a time period to provide adequate coverage for most long-term care needs. Option C and D, 18 months and 24 months respectively, may seem like reasonable options but they are still shorter than the minimum benefit period required. Option B, 12 months, strikes a balance between offering adequate coverage and not being overly expensive for the policyholder. Additionally, it aligns with some state laws that mandate a minimum benefit period of one year. Therefore, 12 months is the minimum benefit period that must be offered by a long-term care policy.