Long Term Care Insurance Helps You In Your Time of Need

Long-term care insurance covers the cost of services an individual needs when they cannot care for themselves. These policies can provide benefits to pay for in-home care, the cost of a nursing home, assisted living facility, or an adult daycare center. Standard health insurance policies do not cover long-term care, and Medicare pays for only short-term stays at nursing facilities.

It is advised that you purchase long-term care insurance in your younger years, as the cost is less. As the years pass, the rates increase. Most insurance companies will not issue long-term care policies to people aged 75 and older. Rather than depleting your estate to pay for the cost of a nursing home, long-term care insurance is an intelligent way to protect your assets.