Long-Term Care Insurance
Long-term care services may be necessary at any
age. An older adult might gradually find that day-today living is becoming increasingly difficult without help, or they may develop Alzheimer’s disease.
Someone younger may have a heart attack, a stroke, a disabling accident or develop a serious chronic illness such as Parkinson’s disease.
Long-term care services are generally custodial and personal in nature but, in some cases, may be rehabilitative.
Because neither medical insurance or Medicare are
primarily designed to pay for long-term care services, long-term care insurance can help provide a way for you to pay for this care. Long-term care insurance can help you retain assets set aside for retiremen and can help you remain independent by providing the money to allow you to decide where and how your care will be provided.
Insurance is technical and you need to understand them to know what to look for in a policy. In some cases, different insurance companies use different terms to describe similar features.