Daily Benefit Amount
The maximum your long-term care policy will pay per day for covered services.
What You Need to Know
Policies often let you choose a daily benefit in $10 increments (for example $200/day). Pick an amount that covers most of the expected local cost for nursing homes or in-home care—any difference must come from savings.
Sources & References
This information is sourced from authoritative government and academic institutions:
- longtermcare.acl.gov
https://longtermcare.acl.gov/costs-how-to-pay/costs-of-care.html
Related Calculators & Tools
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Related Terms in Healthcare & Insurance
ADLs (Activities of Daily Living)
Six basic self-care tasks—like bathing and dressing—that determine long-term care eligibility.
Any Occupation
Disability coverage that only pays benefits if you cannot work in any reasonable job based on your experience and education.
Assisted Living
Housing for people who need help with daily tasks but not round-the-clock medical care.
Beneficiary
The person, trust, or organization that receives the life insurance payout.
Benefit Period
How long your disability insurance will pay benefits once a qualifying claim is approved.
Cash Value
The savings component inside certain permanent life insurance policies.