There are lots of choices setting up a plan. What are some guidelines to make sure I m not buying too little or too much coverage?
You ll never know (until it s too late) exactly how much coverage you should buy, but here are some guidelines for your choices (definitions for these terms are in the quote engine s policy wizard and in the shopper s guide — we ll assume you re familiar with them). Length of benefit – consider 4-6 years of benefit – definitely longer if Alzheimer s or Huntington s runs in the family, otherwise in our experience you only have a small chance of staying in a nursing home longer than 5 years. It s possible to have a longer stay, but not probable. Daily benefit – consider a daily benefit 80-100% of your local costs depending on how much of the cost of care you want to self-insure. The best way to determine cost is to call a handful of facilities local to you or you can use our map [link – costmap.jpg – new pop-up window]. We d caution going less than 70% unless you have significant assets and are just purchasing insurance to defray your out-of-pocket costs. Elimination period – We recomme
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