Here though are the five benefit features that you should know about and look for in a good LTCi policy:
1. The Policy Care Setting – this determines whether your care will be covered and paid for if you are in a facility, at home, or a combination of both. If you are looking to buy a life cover policy then you may contact with Lavine Long Term Care Insurance and Extended Care Agent in Washington State.
These days, many policies that are on the market offer "Integrated" protection, meaning that it pays for both home and facility care.
2. The Daily Benefit – this is the amount per day that the policy will pay in benefits for care received.
To arrive at this figure it is often a good idea to find out what the average cost of care is per day in most facilities in your area and use that as a starting point and guide for the Daily Benefit since you want to be sure to cover at least that cost should the need arise.
3. The Inflation Benefit – this helps keep your policy current with the rising costs of health care in this field so that you will have sufficient coverage when you have to actually use the policy even if it is several years from now.
4. The Benefit Period – this is the number of days that the policy will pay out benefits to you when the need for care arises.
Usually, this benefit is listed as 3, 4, 5, 6 or more years, or even for a person's lifetime. Obviously, the longer the coverage the more expensive the policy. To buy various life cover policies online you may Navigate to to various online sources.
5. The Elimination Period – this is the number of days that you agree to pay for care out of your own pocket before the policy will kick in and start paying for care for you from then on.
The most common choices are 30, 60, 90 or even 180 days. The more days that you pay for from your own funds the less expensive the policy premiums will usually be.