A home health agency person provided these questions that you need to have answered when evaluating longterm care insurance coverage.
1. What is the Elimination Period? Also called the waiting period, this is a stated time that the insured has to cover all the costs before the insurance coverage begins. The cost of your premium increases as the elimination period decreases.
2. What is the total life benefit amount?
This is the maximum the insurance will pay throughout your life.
3. What is the maximum coverage per service date?
Some policies cap the amount they will pay per 'incident' - they probably have a different word, but you get the idea.
Luckily there is a wealth of information available to consumers on longterm care and related health care issues. A good starting point is the American Health Care Association at [1]
Another discussion of this issue can be found on Yahoo at this link [2]