Long-Term Care Insurance Explained

Unlike traditional health insurance, long-term care insurance is designed to cover long-term services and supports, including personal and custodial care in a number of settings such as your home, a community organization, or other facility.

What Is Long-Term Care (LTC) Insurance?

Long-term care (LTC) insurance is coverage that delivers nursing-home care, home-health care, and personal or adult daycare for folks age 65 or older or with a chronic or disabling condition that requires continuous supervision. LTC insurance offers more overall flexibility and options than many public assistance programs, such as Visit: Careshield Life for more details


Long-term care insurance usually covers all or part of assisted living facilities and in-home care for folks 65 or older or with a chronic condition that requires constant care.

It really is private insurance available to anyone who can afford to pay for it.

Long-term care insurance offers more overall flexibility and options than Medicaid.

Understanding Long-Term Care (LTC) Insurance

Many people cannot rely on children or members of the family for support and purchase long-term care insurance to help cover out-of-pocket expenses. Otherwise, long-term care expenses would quickly deplete the savings of an individual and/or their family.

Long-term care plans reimburse policyholders an everyday amount (up to pre-selected limit) for services to aid them with activities of daily living such as bathing, dressing, or eating. You can select a range of care options and benefits that enable you to obtain the services you will need, where you need them.

The expense of your long-term care policy is dependant on:

How old you are when you get the policy
The maximum amount a policy can pay per day
The utmost number of days (years) a policy will pay
The maximum amount each day times the amount of days determines the lifetime maximum amount that the policy will pay.
Any optional benefits you select, such as benefits that increase with inflation
If you are in illness or already acquiring long-term care services, you might not exactly be eligible for long-term care insurance because so many individual policies require medical underwriting. In some instances, you may well be able to buy a limited amount of coverage, or coverage at an increased “non-standard” rate. Some group policies do not require underwriting.

Many long-term care insurance policies have limits about how long or how much they’ll pay. Some policies can pay the costs of your long-term care for two to five years, while other insurance companies offer policies that can pay your long-term care costs for as long as you live-no matter how much it costs. But there are very few that have no such limits.

Before you get a policy, be aware that the insurance provider may improve the premium on your policy. It is a good idea to request home elevators the company’s premium rate history.