I was reading about Long Term Insurance Care and came across this site. I am copy - pasting lines from this article. I hope it helps you. I found it on
www dot longermcareinsuranceplanner dot net
Your policy will list a total dollar amount of benefit for over the stated term. In a stated period policy, your contract will only pay up to the number of years you selected no matter that you used less than the maximum benefits per day. A $100 per day policy for 5 years would end at 5 years even if the policy only paid $50 per day.
A pool of money policy is superior to the stated period policy. A pool of money policy will let you stretch the benefits years if you do not take out the maximum daily amount.
This option is usually referred to as the ‘maximum lifetime benefit amount’.
Indemnity Claims Payment – Under this option, the long term care insurance company will send you a check once a month for the maximum allowable daily, once you qualify for benefits. You don’t have to file claims for every expense.
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