Long Term Care Insurance
What is long-term care? Long-term care involves a wide variety of services for people with a prolonged illness, disability or cognitive disorder (such as Alzheimer's disease).
Long-term care is not one service, but many different services aimed at providing people with the help they need when a prolonged illness or disability keeps them from being able to care for themselves. It can range from help with day-to-day activities in the home (custodial care such as dressing, preparing meals, bathing, etc.) to more sophisticated services such as skilled nursing care in your home or a nursing facility.
Persons with physical illnesses or disabilities often need hands-on-assistance with activities of daily living. Persons with cognitive impairments generally need supervision, protection or verbal reminders to accomplish everyday activities. Skilled care and personal care remain the most common terms used to describe long-term care and the level of care a person may need.
What is long term care insurance?
Long Term Care (LTC) Insurance provides for handling the financial burden of either nursing home care or at-home care. Policies typically pay a fixed daily benefit, which is chosen at the time of inception of the policy.
LTC coverage is important if your wish to preserve your estate or if you do not wish to burden your family with the care or expense
of nursing care.
Do I need Long-Term Care Insurance?