- Apr 15, 2002
When I obtained my policy 6 years ago at age 60, there were a number of options to pick from, including duration of benefits and daily benefit limit. The way mine works is, there is a pool of benefits. If you use less than the daily benefit, your benefits last longer. I also chose the inflation factor rider and the ability to use family members to provide care if you choose that option. The benefits are covered whether care is provided in your home or in a facility, if you require assistance with 2 of the 5 daily living activities. My best friend and I spent months comparing plans and benefits from a number of insurance companies and talked to a number of professionals familiar with LTC. I was able to obtain a policy through the AIPCA, with Prudential which was accepting new insureds at that time. The benefits have not been reduced nor the premiums increased since that time. I passed underwriting but my husband did not so we were unable to obtain a policy for him.