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Long-term care insurance factors

When you're looking at your long-term insurance coverage options, consider the following:

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  Total coverage needs — your total coverage is calculated based on the benefit amount and the benefit period you choose

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  Total benefit amount — total pool of money from which your benefits are paid

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  Benefit amount — maximum amount that your policy provides to cover your care costs on a daily or monthly basis

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  Inflation protection — helps your benefits grow over time to keep up with the rising cost of care

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  Elimination period — similar to a deductible, the amount of time (days) you are required to pay for the cost of care before your policy begins to pay benefits for an eligible claim

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  Benefit period — minimum period of time (years) you can expect your coverage to last.

When you are ready to begin the planning process, HealthMarkets can help you review your plan options from recognized carriers that meet your specific needs and budget.