Long-Term Care Insurance

Long-term care insurance provides coverage to assist people with basic needs services such as dressing or eating as they age or become disabled. Services may be provided in the policyholder’s home, an assisted living facility or nursing home. These benefits are generally available at two different levels.

Who needs long-term care insurance?

While long-term care insurance is often thought of as being helpful for the elderly, it’s entirely possible that many of us will need this type of coverage at some point in our lives. Young people who have chronic illnesses or failing health may need a certain level of helpful care. Ideally, a person who is relatively young and healthy can seek this form of coverage and receive more favorable rates, but people of any age can benefit from purchasing this insurance.

How does long-term care insurance work?

Long-term care insurance can be used for virtually all levels of care, regardless of where it is received. Individuals can get assistance for care provided in their homes, communities, assisted living facilities or nursing homes. They can file a claim whenever they aren’t able to perform activities associated with daily living. This form of coverage is available for a minimum of 90 days.

What are the features?

Long-term care insurance policies offer a wide range of features. They offer professional medical support for policyholders with disabilities, health challenges or other cognitive challenges that may require a trained professional.

There are two levels of care provided for the individual. Personal care assists with normal daily activities and chore assistance offered in the home, supporting basic grooming and housework.

The second level of care offered is for patients who need a medical professional with a higher level of skill. Assistance may be provided in a nursing home, care center or a private residence.  Adult day care covers supervised care which may be necessary during the day. Assisted living gives individuals the freedom they need in a safe apartment setting. Nursing homes offer a higher degree of skilled healthcare required for a patient in a 24/7 setting.

Additionally, home modification options cover any modifications made to a home in order to make it more accessible. Care coordination options match patients to whatever level of professional support they may need and may also include coverage for monitoring providers. Future service options provide coverage for individuals who may need assistance in the future.