Many long term care insurance policies offer various bells and whistles and consumers look at them as hindrance when choosing the best features for their individual policies. Nevertheless, there are four important features in LTCi, and these are:
Long Term Care Insurance Benefit Amount
This is the amount the policy will pay for your benefits on daily, weekly, or monthly basis. According to the American Association for Long Term Care Insurance (AALTCI), in 2007, there were 36 percent of Americans who preferred between $100 to $140 daily benefit, while 33 percent selected between $150 and $199.
Deciding on the benefit amount can be very difficult; thus, you need to survey several long term care facilities within your area or state and determine how much they charge on LTC services. Doing this, you have a hint on the overall expenses these services would incur per day or per month. The benefit amount should be on a par with the actual costs of LTC services to prepare for the future expenses and unlikely events in the future.