Long Term Care Insurance Policies
What is Long Term Care Insurance?
Long term insurance is designed to help individuals afford the expenses associated with long term care, such as nursing home care, hospice care, and skilled elder care. Living in a nursing home can be extremeley expensive, and is often something that an individual cannot afford on their own. The out of pocket expense for long term care can make taking care of day to day expenses extremely difficult. This type of insurance helps bridge this gap, so that individuals can afford the elder care they need.
Who is Long Term Care Insurance for?
This type of insurance is designed for aging adults who think they may be unable to take care of nursing home expenses on their own. While it is not typically covered by employers as a benefit, it can be purchased privately. Purchasing the insurance is an excellent way to invest in future long term care, so that you are well taken care of as you age.
How Does Care Insurance Work?
When you purchase a care insurance policy, you're ensuring that your long term care expenses are provided for. You pay a monthly premium, and as you age, the policy provides for the care that you need. If you are disabled and need skilled nursing care, if you need geriatric care, or if you need in home nursing care, you'll be provided for. These types of policies are especially good for individuals who do not have extended family, or who do not want to burden their children or other family members with the cost of their care. If you're unsure that you'll be able to cover the cost of the long term care you may eventually need, purchasing this type of insurance policy may be an excellent idea.
There are types of insurance to cover a variety of long term care. Whether you need residential care, in home nursing, skilled nursing care, hospice care, or to live in a residential nursing home, it's likely covered by an insurance policy. Before you purchase a policy of this type, evaluate your health and your family's medical history. Then purchase an insurance plan that seems like it will cover your future needs appropriately. Even if the plan doesn't cover all of your long term care expenses, it will help offset the cost.
Back to Home
Learn about Auto Insurance
Learn about Homeowners Insurance
Learn about Life Insurance