Some insurance companies offer LTCi policies based on a daily benefit amount. Mutual of Omaha’s policies are based on a monthly benefit.

A daily benefit has a per day maximum which means your clients are reimbursed up to a set amount for each day. If the cost of the service is over this amount, your client will have to pay the balance.

With a monthly benefit, your clients are reimbursed for the actual costs of the services received each day up to the maximum monthly benefit – regardless of daily costs that may vary throughout the month. While both policies pay $3,000 per month in benefits, how the benefits are paid is different.

A monthly benefit allows your clients to get the maximum benefits from their policy and the ability to pay for different types of LTC services if needed.
 

Advantages of a Monthly LTCi Benefit

 
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