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The waiting or deductible period in a long-term care policy, which is the time between when an individual qualifies for benefits and when they actually begin to receive them.

A feature that allows policyholders to receive partial benefits or a return of some premiums if they let their long-term care policy lapse.

An optional feature in long-term care insurance that helps the benefits keep up with the rising cost of care over time, usually through automatic benefit increases.

The process of evaluating a potential policyholder's insurability and setting the terms of the long-term care insurance policy, often including a review of medical history, lifestyle, and other risk factors.

The amount that a long-term care insurance policy will pay on a daily basis to cover care, which influences the policy's monthly or annual cost.

A rider that allows spouses to share each other's long-term care insurance benefits, effectively increasing the pool of benefits available to either spouse.

The conditions that must be met for a policyholder to qualify for benefits. Typically involve proving inability to perform a certain number of Activities of Daily Living (ADLs) or having cognitive impairment.

The longest period of time for which benefits will be paid by the long-term care policy, ranging from a few years to the rest of the insured's life.