Long-Term Care Policy Options

---

There are various long-term care policy options from which to choose. It is important to consider the options best suited to your needs.

Core Benefits

Daily Benefit
The maximum dollar amount your long-term care insurance policy will pay for each day you need assistance is usually between $50 and $500 each day.

Elimination Period
With many policies, benefits are not immediately available. During an elimination period, the policy will not pay the cost of the service. This can be anywhere from 0 to 365 days after you start using long-term care. A zero elimination period policy may be chosen, but it will be more expensive.

Benefit Period
The benefit period determines how long your long-term care insurance policy will continue to pay for your care. Benefit periods can be a set number of years, dollars or benefits.

Other Options

Survivorship Benefits
In the event of the death of a spouse, the policy for the surviving spouse will be paid in full.

Restoration of Benefits
If you use part of your benefits, recover and do not use any long-term care for a specified period of time (usually 6 months), your benefits will be restored in full.

Waiver of Premium
This option gives you the ability to stop paying a premium once you are in a nursing home and benefits become effective. Some plans also waive premiums if you are receiving home care.

Shared Care
This option offers financial flexibility in paying for long-term care expenses by allowing a couple to pool their benefits. The shared pool can be accessed by the spouse needing the care.

Inflation Protection
This policy option provides for increases in benefit levels to help pay for expected increases in the costs of long-term care services.

Because there are many options to choose from, make sure you choose the options that will work best for you.

Exclusions And Limitations

• A mental or nervous disorder or disease (other than Alzheimer’s disease, dementia and senility).
• Illness or injury caused by an act of war.
• Treatment already paid for by the government.
• Illness or injuries from attempted suicide.