If I needed care, what would my long-term care policy pay a day?

q117 questions.yaml · questions.yaml:265 financefiles

Question

A good answer

$272.27 a day from June 12, 2026 ($180 at issue, growing 3% a year), after a 90-day waiting period, for up to four years ($397,514.20). This is only on the schedule page attached to the policy.

272.27

Comments

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Supporting records

The records the answer rests on, from from, with whose they are.

EH-LTC-7730418-P Insurance Policy · saved Mar 21, 2013

Whose: Peg Ostrander (covered_item)

carrier	elmhaven
covers	- me
policy_number	EH-LTC-7730418-P
annual_premium	2916
next_payment_due	2027-06-12
remarks	Current. My long-term care policy, bought June 12, 2012. No end date as long as the premium is paid. It was $2,388 a year until the 2021 increase.

File: finance/ltc-policy-peg-schedule.pdf

Traps it covers

someone_elses Peg and Ray each have one of nearly everything, an IRA statement included. Both take atorvastatin, at different doses. Only Peg's health care power of attorney is scanned. "My" means Peg's.

only_in_file The facts kept in one file and nowhere else. The long-term care daily benefit ($272.27) is only on the schedule. The life policy's cash value is only on its statement. The cabin's wind deductible ($7,700) and its theft and tree limits are only on its declarations. The house policy's jewelry sublimit, water backup limit and the rule about leaving the house empty in winter (condition 6.4, on page 5 of 8) are only in the policy. Ray's LDL of 68 is only on the lab sheet. Adjusted gross income for 2025 ($116,640) and for 2024 ($109,870) is only in each year's summary. The truck's title number is only on the title (that there is no lien also follows from the purchase receipt's "no loan"). The value of Peg's IRA is only on its statement. The septic system's design and the county's three-year pumping rule are only on the permit.