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Deciding on long term care insurance requires serious planning and personal assessment to avoid costly financial mistake in the future. The amount of coverage and the length of time(normally stipulated in years)the company will pay for the benefits must be determined because they can trigger the price of the premiums and the quality of service you will receive. There are four major concerns when determining the LTCi coverage:Estimating the Daily Benefit Amount.The daily benefit amount is simply the amount yourlong term care insurance policy will pay for benefits on a daily basis. In a study conducted by the American Association for Long Term Care Insurance in 2008, 36 percent of Americans purchased an average daily amount of $100 to $149, while 33 percent preferred $150 and $199. Those figures were gathered from 2007 applications.Remember that every person has different need hr support for small businesses s when it comes to long term care, so it makes sense if you assess your needs and your health first before deciding on the amount. Even though most people purchase between of $100 to $149, it does not assure that you will need the same amount for your care. You don’t want to pay either less than or more than your actual needs.Calculating the Best Benefit Period.Majority of Americans prefer LTCi policies that pay for two to three years.Jesse Slome, executive director of the American Association for Long-Term Care Insurance, said that 20 percent of seniors age 65 and older will require more than five years of coverage. He also stressed that people should not consider the average benefit periodthe most because every person has varying needs and risks for long term care. In fact, longer benefit period equates to higher premiums, while shorter benefit period means lower premiums.