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Policy Design



Choosing a policy that works for you and your family is typically a five-step process.

          Step 1. Choose a Daily Benefit: Ranging from $100 to $500 per day, this is the amount
          of benefit available to reimburse actual charges. This daily benefit is typically chosen
          based on the average cost of care in your area.

          Step 2. Select a Benefit Period: Typical benefit periods include 2,3,4,5, 6, 10 Year or a
          lifetime of benefits. This is how long the insurance carrier will pay for your care – you
          decide which benefit period makes sense for you.

          Step 3. Select Inflation Protection: This option determines how your benefits can
           increase to keep pace with inflation over time. The recommended inflation option* is
           determined by your age.

          Step 4. Choose an Elimination Period (Deductible): This is the number of days that 
           you elect to pay for care before your policy begins to pay benefits. The standard
           elimination period is 90 days.

          Step 5. Optional Benefits and Riders: Based on the select policy design, different
          carriers offer riders and optional benefits that may compliment your coverage.*


Policy and carrier recommendations are made based on your age, health, cost of care in your area, marital status and financial situation. There is a lot to consider before purchasing a policy. It is important to talk with an insurance professional to discuss your options.


*At additional cost.

The information on this page is only applicable to residents of Connecticut, New Jersey or New York.  The information provided is not intended for residents outside of these states.

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*Fee-based financial planning services offered through Lenox Advisors, Inc. Lenox Advisors, Inc., offers access to securities and asset management services through MML Investors Services, LLC., 530 5th Avenue, 14th Floor, New York, NY 10036, 212-536-6000, member SIPC. Investment adviser representatives of Lenox Advisors, Inc. offering fee-based financial planning services may also be registered representatives and investment adviser representatives of MML Investors Services, LLC. for purposes of offering securities and asset management services, as applicable. Lenox Advisors, Inc. is a wholly owned subsidiary of National Financial Partners Corp. (NFP). Lenox Advisors, Inc and NFP are not affiliates or subsidiaries of MML Investors Services, LLC. Services offered through Lenox Advisors, Inc. as an Independent Registered Investment Advisor are not sponsored or offered through MML Investors Services, LLC.

Copyright (c) 2011 Lenox Advisors All rights reserved.

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