There are standard features included in a long term care insurance policy. However, you can make certain benefit choices to control the cost of premiums and the benefits options.

Benefit Choices

Daily benefit amount, carry over privileges – Some policies pay a pre-determined flat amount per day or per month, others only the actual charge. Many of these latter policies will allow the amount of daily benefit not used to carry over, which extends the benefit period.

Home care benefit – In home care by home health care professionals and homemaker services. Adult day care benefits can be included.

Benefit period - This can range from one year to unlimited years (lifetime). Usually is multiplied by the daily benefit you chose to equal a lifetime maximum.

Deductible or elimination period - Similar to deductibles paid in other insurance, expressed in set numbers of days before long term insurance benefits kick in. Longer elimination periods can decrease policy premium costs.

Inflation protection -This option increases your benefits over time while keeping your premiums level for the life of the policy.

Continuation for lapse premium benefit - This can be included so that if your policy terminates due to non-payment of premiums, a retroactive continuation of coverage is available for a determined period of time under certain circumstances. And you can have another person notified in the event of a lapse. This is helpful in cases of cognitive impairment.