Third, choose a policy. And prior hospitalization should not be a requirement for obtaining benefits. It should cover various forms of care, including adult day care, respite care and home health care. If you are 75 or younger, you should get a policy with benefits that rise at a 5 percent compound annual rate. You can think about cutting back the benefit period, the number of days you would get benefits, but that increases your risk.
Policies usually require certain impairments before paying benefits.
You must show such circumstances as medical necessity, cognitive impairment, problems with activities of daily living and the like. United Seniors recommends policies that treat these impairments separately rather than requiring several combined to obtain benefits. You could still pay the premiums if they rose 20 or 30 percent. Paying the premiums doesn't crowd other things out of your budget. There are a number of publications available to help people evaluate long-term care insurance.