Long-term care insurance policies can be structured in any number of ways, depending on your desired coverage. More coverage equals more premium cost, but may save you money later in life if you use your policy for a number of years.

There are a variety of provisions (also known as riders) to consider, including but not limited to the dollar amount of your daily benefit (usually $200 - $500), whether it is a reimbursement or paid in full, which facilities qualify for coverage, what kind of assistance you’ll provided, whether or not it includes a nurse on duty 24 hours a day, access to a doctor, whether you’ll have a room to yourself or not, and so on.

Careful analysis of all of these features is required before purchasing a policy.

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