A: All long-term care insurance premiums are determined by your age, health, and the features selected in the policy. The four main features that determine the premium are: The daily/monthly benefit (the amount of money the policy will pay each day/month); the length of coverage (the amount of time you can receive benefits); the elimination (waiting) period (the number of days you pay out-of pocket before the policy begins paying); and the inflation factor (a rider that increases your daily/monthly benefit to keep pace with rising costs). Your current and expected household income and assets will help determine the amount and duration of each feature.