Traditional LTCi

Traditional Long Term Care Insurance policies are paid like health insurance and do not have cash value. You pay premiums each year, and you typically stop paying premiums when you are receiving benefits.

The primary design considerations include the following:

  • Benefit Amount – How much money is paid to you, usually between $50 to $500/day.
  • Benefit Period – How long the Benefit Amount is paid to you, usually between 2 and 10 years.
  • Elimination Period – Like a deductible, the time in days you pay for care before the policy pays.
  • Inflation Protection – Helps the value of your benefits keep up with the rising cost of care.
  • Shared Benefit – This is an option to share benefits together with a spouse/partner.