Addium

For instance, a 55-year-old buyer of an LTCI policy with a maximum daily benefit amount of $200 and a five-year benefit period was told that his annual premium would be $1,100. If this amount exceeds his budget and he feels that he won’t be able to maintain it, the buyer can change some of the variables of his policy to reduce his premium.Addium Some people reduce their maximum benefit amount but retain a 5% annually compounded inflation protection to ensure that their benefits will keep up with inflation. Meanwhile, others would opt for full nursing home coverage and acquire partial coverage only for in-home care.