Will my long-term care policy stop paying benefits at the end of my “Benefit Period”?

Long-term care insurance policies will continue to pay benefits for as long as you are receiving qualified care and as long as you have not yet reached the Policy Limit.

In other words, if you do not use all your Daily Benefit each day, what is not used is still available for future use.

For example, if your Daily Benefit has grown to $300 per day, but your care only costs $250 per day, the unused $50 can be used at a later date.

In this case, a policy with a 6-year Benefit Period could actually end up paying benefits for about 7 and a half years, because the unused $50 per day extends the amount of time before the policy has reached the Policy Limit.


About Scott A. Olson

Scott A. Olson, is the author of “The Guidebook for Making Long-Term Care Insurance Easier.” He is a licensed insurance agent and has specialized in long-term care insurance since 1995. He is licensed to sell long-term care insurance in over 40 states. Scott was born and raised in New Jersey and attended Rutgers University. Scott was a caregiver for a close relative for two years. That personal experience has made him acutely aware of how to help his clients design and choose a long-term care policy that will benefit them when they need it the most. Scott and his wife Carolyn live in Redlands, California. Scott and Carolyn have four sons.