Co-Insurance

Co-insurance is sharing the future cost of long-term care services and support with an insurance company. 

It means policyholders must pay the difference between their actual care costs and the amount covered by the policy. The insured would pay this amount out-of-pocket. 

Most policy designs include some level of co-insurance. The benefit of co-insurance is it keeps the premium as low as possible without putting excessive burdens on the insured or their family. 

The more the policyholder is willing to co-insure, the lower the policy benefits and premium. This can ensure coverage while saving money long-term.