DELAWARE INSURANCE DEPARTMENT
How do Benefits and Coverage Vary?
The amount the policy will pay for each day of long-term care. This amount can be chosen form a range usually between $50 and $250 per day.
The policy's maximum benefit. All policies must cover at least 12 months of nursing home care, but you can select a policy with benefit periods of two, four, six, ten years, or a lifetime benefit period.
Elimination period. This is the time you can receive long-term care before benefits begin, usually 30, 60 or 90 days. The longer the elimination period you choose, the lower the premium.
Home and community care benefits, such as the services of visiting nurses, therapists, and home care aides. The daily benefit must be at least 50% of the nursing home benefit.
Waiver of premium. This feature allows you to stop paying premiums once you start receiving benefits from the policy.
Third party notification. To avoid a lapse of the policy for non-payment of premiums, companies must offer to notify a person you designated of that impending lapse.
