Some things to look for when buying long term care insurance are:
1) whether it covers all levels of care, including care given at home or in an assisted living setting;
2) how many years the care will last, or what lump sum of money there is to cover care over the lifetime of the insured;
3) the daily benefit...do you want the policy to cover all or part of what you might be charged for your long term care services;
4) the elimination period, coordinating it with days that might be paid for by Medicare, etc;
5) a home health care rider that allows you to receive those benefits from day one rather than wait for the elimination period to run out;
6) cost of living rider that will allow your benefit to go up as health care costs rise.
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1) whether it covers all levels of care, including care given at home or in an assisted living setting;
2) how many years the care will last, or what lump sum of money there is to cover care over the lifetime of the insured;
3) the daily benefit...do you want the policy to cover all or part of what you might be charged for your long term care services;
4) the elimination period, coordinating it with days that might be paid for by Medicare, etc;
5) a home health care rider that allows you to receive those benefits from day one rather than wait for the elimination period to run out;
6) cost of living rider that will allow your benefit to go up as health care costs rise.