Long Term Care Insurance… what is it?
Long term care insurance, like all insurance, requires you to pay a premium on a regular basis so that you don’t have to pay a huge amount later on in the event of a catastrophic illness or condition.
Long term care insurance covers services for people who are unable to care for themselves. The most common reasons that people need long-term-care insurance are:
- a degenerative condition (a stroke for example)
- a disability
- a prolonged illness
- a cognitive disorder, (Alzheimer’s disease)
- Long Term Care insurance can pay for long term care, either in a facility, such as a nursing home or in a residence, such as an assisted living facility or in one’s own home.
Long-term care can be:
- nursing care, or
- custodial care to help with the activities of daily living
- The settings for long-term care can be:
- an assisted living facility
- in your own home
- a nursing home
- an adult day care center
To find out more about Long Term Care insurance, please contact us today!