What is the “Daily Benefit”?
The Daily Benefit is the amount of money your long-term care insurance
can pay for each day that you receive qualified care.
The Daily Benefit is sometimes referred to as the “Starting Daily
Benefit” or the “Original Daily Benefit” because your Daily Benefit will grow
each year according to whichever Inflation
Benefit you choose for your long-term care policy.
You choose how much you want your Starting Daily Benefit to be.
Most long-term care policies have many choices for the Starting Daily
Benefit. You can choose a Starting Daily Benefit as low as $50 per
day to as high as $500 per day. The choices for the Daily Benefit
are usually offered in $10 increments. The higher your Starting
Daily Benefit, the higher the premium.
With some policies the Daily Benefit is referred to as a Monthly
Benefit. For example, a policy with a $200 Daily Benefit is
similar to a $6,000 Monthly Benefit.