1. Daily Benefit: dollar amount insurance company will pay per day when you need care ($100-$500);
    monthly option

2. Benefit Period (Multipler): how long will payouts continue (2 years to lifetime). This determines your total pool of money.

3. Elimination Period: waiting period before benefits begin (0 days - 180 days). Your deductible in time.

4. Inflation Protection: To cover increasing health care costs, and protect buying power of the daily
    benefit (5% compound, simple, 2x compound inflation and variations in between)

5. Benefit Payment:

    Reimbursement: pays based on actual expenses for long-term care up to the daily benefit

    Indemnity: pays the full daily benefit upon the showing of one compensable event per day such as a
    home care visit or a visit to an adult day care

    Cash Alternative Plans: A reimbursement plan with an option for a smaller percentage of daily or monthly benefit in
    cash.

    Cash Benefit: the policyholder receives the full daily benefit upon presenting to the carrier a plan of
    care; he is not required to receive actual care.

6. Means Of Payment: direct or bill; annual; semi annual; quarterly or monthly; ten year pay; paid up to age 65;
    Single Premium Immediate Annunity

7. Optional Riders such as survivorship, restoration of benefits, return of premium

8. Non-Partnership or Partnership Plan: plans tied to State Medicaid programs on the back end for asset
    protection. New York State plans have Total Asset Protection and Dollar For Dollar (premiums paid
    by LTC insurance protect assets equal to that amount). Most other states have dollar for dollar only.