Long Term Care Fundamentals
Insurance Continuing Education in Michigan
- 4 credit hours
- 25-question final exam, 70% to pass
- Proctor required for the exam
- Unlimited attempts to pass
Michigan insurance continuing education requires an impartial third-party proctor be present during your final exam. A suitable proctor is a person who has no financial interest in the success or failure of a licensee maintaining an insurance license. The disinterested third party must also certify the exam was closed-book and no other assistance was used to obtain a passing score on the exam.The proctor cannot be a friend, relative or in the direct line of employ of the licensee, nor anyone with a financial interest in the exam result. Make sure to return your signed proctor affidavit within 10 days of completing the course. Failure to return the signed form may forfeit your CE for this program.
Price: $16.95
If purchased today, this course must be completed by September 15, 2027 (309 Days)
Description
The risk of needing long term care—a designation given to a broad range of services designed to meet an individual’s mental, emotional or physical health and personal needs and which are often provided over an extended period of time—is present at all ages. However, as individuals become older the risk of requiring long term care increases significantly.
The U.S. population is expected to increase in size by about 27% by the year 2050. In contrast, the part of the U.S. population most at risk for needing long term care—the segment comprised of individuals 85 years old or older—is expected to grow about 280% during this same period. Not only is the part of the population most at risk for needing long term care growing disproportionately, the cost to provide that care is also increasing. Long term care costs are substantial and, over the last several years, have been increasing at a rate that exceeds the inflation rate.
The growing risk of needing long term care fueled by a rapidly aging population coupled with the high and continually increasing cost of such care can present burdensome financial concerns to many clients and their heirs. This course examines the nature of long term care, the forms in which it may be delivered, the risk of needing such care, the costs of long term care, the sources available to pay long term care costs and the features of long term care insurance.
Learning Objectives:
- Recognize the types of services that constitute long term care and the settings in which they are provided;
- Compare the benefit triggers associated with qualified and nonqualified long term care;
- Identify the national average cost in the United States of obtaining various types of long term care and the sources available to pay for the care;
- Recognize the benefits and tax treatment of long term care insurance and the alternatives for funding long term care; and
- Describe the suitability and ethical issues associated with recommending the purchase of long term care insurance.
Final Exam
- Need Proctor?
- Yes
- Question Count
- 25
- Passing Grade
- 70%
- Attempts to Pass
- Unlimited
Rules
Rules for Michigan Insurance Continuing Education
- This state allows for course material to be downloaded. Please note that not all courses will have content that is suitable or available for downloading.
- Exam is closed book.
- The state of Michigan charges an additional fee of $1.00 per credit hour.
- Michigan credits a course once per 2-year compliance period, so you may take the same course again for credit after your license has renewed.
Approval Info
- Course Number
- 97484
- Approved Title
- Long Term Care Fundamentals
- Approved Credits
- 4 credits in LTC - Partnership
- Provider
- InsuranceStudy
- Provider Number
- 0499
- Topics Covered
- Long Term Care
- Program Level
- Basic