An adequate daily benefit. The average age that someone enters a nursing home is 79, according to the National Center for Health Statistics. If you purchase a policy at age 55, you may not need the coverage for 20 years. During that time, the average cost of a nursing home stay may more than double, considering a reasonable inflation rate. A home health care option.
Most people like to remain in their own homes as long a possible.
A good policy should offer at least a partial benefit for the services of a professional caregiver in your home. Similar to a deductible, an elimination period is the time span in which you pay for your long-term care out of your own pocket. A typical elimination period is 90 days. It should be noted that if care is needed immediately following a hospital stay, Medicare will usually cover a portion of the cost up to 90 days. An acceptable benefit period.