In medical science 99% CI is not acceptable.generally 99% is considered as highly significant.
The confidence level is chosen subjectively by the researcher, depending on the level of uncertainty that is acceptable for the point estimate that is to be reported, such as a mean or odds ratio.
The 95% confidence level is commonly used.
A 99% confidence level will give a wider range (interval) of the potential values of the unknown population parameter, but more certainty that the true population parameter lies within that range.
For any given confidence level, the larger the sample size, the narrower the confidence interval will be.
As Nyawira indicated, it depends upon what is acceptable, which depends upon your application. One would expect/hope that under such circumstances, that standard deviation is sufficiently low, and/or sample size, in the case of a confidence interval around an estimated mean, is sufficiently large, so as to provide such an interval which is not too wide, because, as Nyawira also noted, the larger the percent confidence interval, the wider the interval to be able to claim such "confidence." A small standard deviation is helpful.
(Note that in regression, the intervals around 'predicted-y' are not called "confidence intervals," but "prediction intervals," though often they are confused, as they serve a similar purpose.)
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