Long Term Care Insurance Options

There are several kinds of long-term care insurance policies, but there are no policies that guarantee to cover all expenses fully.

• An indemnity or "per diem" policy pays up to a fixed benefit amount regardless of what you spend.
• An expense-incurred policy lets you choose the benefit amount when you buy the policy and you are reimbursed for actual expenses for services received up to a fixed dollar amount per day, week, or month.
• Integrated policies or policies with pooled benefits provide a total dollar amount that may be used for different types of long-term care services. There is usually a daily, weekly, or monthly dollar limit for your covered long-term care expenses.

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