It's difficult to think about the fact that you might someday need long-term care. Even more difficult is anticipating how much that care could cost, and how long you might require care. But these are the questions you must consider in order to purchase the correct amount of insurance.
Most policies provide a maximum dollar amount for each day of nursing home care.
The cost of nursing home care varies tremendously from one facility to another, and from one geographic region to another. The daily benefit specified in a LTCI policy typically applies only to nursing home care. However, some policies do not cover home care and assisted living care unless you add these coverages by purchasing a rider. Pooled benefit policies usually include a daily, weekly, or monthly limit on covered expenses. Choosing the right amount Variations in the cost of long-term care make it difficult to recommend a specific amount of coverage.