What are the advantages of indemnity contract?

Answer 1

With indemnity long term care (LTC) insurance, you get to receive the full amount of your benefit regardless of the care cost. For example, you bought an indemnity policy that will pay a benefit amount of $200 per day for 5 years, so when the day comes when you become an ltc recipient, an you enterned an assisted living facility or nursing home that charges $100 day, you will still get $200 from your policy and you have the freedom to decide where you are going to spend the excess $100 from your policy. You will continue to get this amount for 5 years.