What do you need to know about long-term care?

Much like auto, home or life insurance, long-term care insurance policies are designed to reimburse a predetermined benefit should something unfortunate happen. In this case, the benefit will help cover the costs for the physical care and day-to-day living assistance you may need if confronted by a lengthy illness, severe accident, or effects of aging.

What Kind Of Services Are Covered?

Since aging is a gradual process, it's unlikely that you will suddenly wake up one day needing nursing home care. Instead, most people go through several stages of care; a progression that begins with in-home care and may-or may not-lead to a skilled nursing facility. In between, there are a host of services available to help the policyholder and their family members enjoy as much independence as possible. A quality long-term care insurance policy will take this into account, and be ready to help ease the transition from one stage of care to another. Learn More >

Misconception On Government Aid and Health Insurance:

Many consumers believe they already have protection, however private health plans offer limited protection for nursing facility care services and Medicare pays only for temporary care required after hospitalization. Medicaid may be available to individuals who meet strict state and federal income and asset requirements, but Medicaid is not intended as a long-term care funding entitlement. Many people who need long-term care may not qualify for Medicaid assistance. 1

1 National Association of Insurance Commissioners. A Shopper's Guide to Long-Term Care Insurance. Page 5, 2006.