Grillo Financial Services
Investment advisory services and securities
offered through Tower Square Securities, Inc., Member FINRA/SIPC, and a
registered investment advisor. Grillo Financial Services is not a registered
investment advisor securities broker-dealer and is not affiliated with Tower
Square Securities, Inc.
Paul A. Grillo is a registered representative and investment advisor
representative of Tower Square Securities, Inc. He is registered for the
sale of securities products in CT, FL, MA, NC, NY, PA, RI and VT and is
licensed to sell life insurance products in AZ, CT, FL, MA, ME, PA, RI and
VT.
Massachusetts life licensee: Paul A. Grillo
Massachusetts life licensee: Paul A. Grillo
Long-Term Care IQ Quiz
| 1. | Long-term care refers to a situation when a person needs: | |
| A. Medical treatment in a hospital | ||
| B. Medical treatment at home | ||
| C. Chemotherapy | ||
| D. Ongoing assistance with day-to-day activities such as bathing, dressing or eating | ||
| 2. | The need for long-term care may be as a result of: | |
| A. Alzheimer's disease | ||
| B. An accident | ||
| C. Chronic or disabling conditions | ||
| D. All of the above | ||
| 3. | How many households are providing care to an adult family member or loved one? | |
| A. One out of 2 | ||
| B. One out of 5 | ||
| C. One out of 10 | ||
| D. One out of 15 | ||
| 4. | What percent of Americans aged 85 years, or older, need some help with ordinary activities | |
| of daily living? | ||
| A. 20% | ||
| B. 40% | ||
| C. 50% | ||
| D. 80% | ||
| 5. | The cost of receiving long-term care can vary a lot, depending on where in the country you live. | |
| What is the current national average annual cost of receiving long-term care in a private room in a | ||
| nursing home? | ||
| A. $40,000-$49,999 | ||
| B. $50,000-$59,999 | ||
| C. $60,000-$69,999 | ||
| D. $70,000-$79,999 | ||
| 6. | When they reach traditional retirement age, all U.S. citizens are entitled to receive basic coverage | |
| from the government for: | ||
| A. Dental care | ||
| B. Health care | ||
| C. Long-term care | ||
| D. Both B & C | ||
| 7. | The annual cost of a long-term care insurance policy that covers care both in your own home and in | |
| a facility at $150 per day for three years of care and provides inflation protection for a 45-year old | ||
| can be purchased for about $950. How much would it cost, per year, to purchase the same policy | ||
| if the buyer were to wait 20 years and buy it when he/she was 65-years old? | ||
| A. 25% cheaper than when purchased at the younger age | ||
| B. About the same | ||
| C. 25% more expensive than when purchased at the younger age | ||
| D. Nearly three times more expensive | ||
| 8 | Where do most people receive long-term care services? | |
| A. In their own home | ||
| B. Assisted living facility | ||
| C. Nursing home | ||
| D. Hospital | ||
| 9. | Transferring financial assets to your family or loved ones would allow you to qualify immediately for | |
| Medicaid payment for long-term care. | ||
| A. True | ||
| B. True, as long as I only transfer money to my children | ||
| C. True, as long as I am in a nursing home | ||
| D. False | ||
| 10. | Which has the greatest probability of happening to you at some point in your life? | |
| A. Need for long-term care | ||
| B. An auto accident | ||
| C. A fire in your home | ||
| D. An airline accident | ||
| 11. | If a long-term care insurance policy pays benefits for 'informal care', who provides this kind of care? | |
| A. Friends and family members | ||
| B. Hospitals | ||
| C. Assisted living facilities | ||
| D. Nursing homes | ||
| 12. | Which of the statements below is true of long-term care insurance? | |
| A. Replaces lost income when someone is out of work because of a disability | ||
| B. Covers the cost of someone who needs supervision because of Alzheimer's disease | ||
| C. Pays for visits to the doctor | ||
| D. Pays for a hospital stay | ||
| 13. | In the event that you needed extended care due to an accident or to a chronic illness, whether in your | |
| home, in an assisted living facility or in a nursing home, what type of insurance would pay your | ||
| expenses? | ||
| A. Medicare | ||
| B. Medicare Supplement (Medigap) | ||
| C. Long-term care insurance | ||
| D. Disability insurance | ||
| 14. | What is the average monthly cost for assisted living facilities in the United States? | |
| A. $1,700 | ||
| B. $2,400 | ||
| C. $3,200 | ||
| D. $5,400 | ||
| 15. | What are the chances that an individual who reaches age 65 will live at least 18 more years? | |
| A. 25% | ||
| B. 35% | ||
| C. 50% | ||
| D. 75% | ||