State RegulationsIL specificDifficulty 1/5
Under Illinois law, what must a qualified long-term care Partnership policy include?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
To qualify as a long-term care Partnership policy in Illinois, the policy must include inflation protection that satisfies the requirements of the Partnership framework. This qualification layer sits on top of the base LTC standards of 215 ILCS 5/351A-1 and 50 Ill. Adm. Code 2012, and it is what earns the policyholder the Partnership's asset protection benefit, administered under Illinois Department of Insurance oversight.
Why the other options are wrong
- A) A no-cost waiver-of-premium provision is not the defining Partnership requirement; the qualification turns on inflation protection.
- C) A free guaranteed insurability rider is not what makes a policy Partnership-qualified under the Illinois framework.
- D) Partnership qualification does not limit coverage to nursing facility care; the defining requirement is inflation protection.
Memory hook
Partnership badge = inflation protection on board.