Try: When looking at ltc coverage and comparing policies it is crucial to have a policy that suits the purchaser’s needs additionally there are several key aspects of the policy that can affect the price and coverage buyers should consider the following aspects of ltc coverage dollar amount of coverage with most policies the insurance company will guarantee a daily dollar maximum this is the maximum amount of coverage per day that the insured individual can receive it is important to note that this amount is often selected by the individual when purchasing the policy another method to increase benefits is to purchase an insurance rider but this can substantially raise the cost of premiums link to inflation rider length of coverage the insurance purchaser will also have to decide the length of coverage for future benefits again the longer the coverage period the higher the premiums will cost some insurance companies will allow plans that offer benefits periods for the purchaser’s remaining life or offer a plan that caps the benefits with a dollar amount overall most insurance companies offer a length of benefits and insurance purchasers generally select between 3 to 5 years waiting period many insurance companies also include a waiting period before benefits begin it functions similarly to a deductible no benefits are paid during the first 30-120 days of an otherwise covered ltc situation the insurance purchaser will be able to choose the waiting period length when buying the policy the shorter the waiting period the higher the premiums

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*This information is listed as a Fact Sheet and is not explicitly medically licensed