What is the difference between the benefit period and the daily benefit?

The benefit period is the length of time you will receive payments from the insurance company once you begin using your long-term care policy.  You select a specific number of years (some plans have a lifetime option.) depending upon your specific resources and needs. The daily benefit is the amount of money you will receive from the insurance company on a daily basis for your care. Again, you can  select daily benefits you feel will be appropriate for you, and our professionals can help you to determine just what those might be.