Long Term Care Insurance

 It generally helps pay for:

• In-home care services (nurses, aides, therapists).
   
• Assisted living facilities.
   
• Nursing homes.
   
• Adult day care programs.
   
• Respite care for family caregivers.
   

Coverage may vary depending on the policy, but the focus is on providing financial help when you need assistance with daily living activities.

 It’s especially valuable for:

• Individuals who want to protect their retirement savings.
   
• People without family members who can provide full-time care.
   
• Anyone who wants more control and flexibility in choosing where they receive care.
  Since the risk of needing long-term care increases with age, many people purchase coverage in their 50s or early 60s.

 The cost depends on:

• Your age and health when applying.
   
• The daily or monthly benefit amount you choose.
   
• The length of coverage (for example, 3 years, 5 years, or lifetime).
  Buying earlier usually means lower premiums since rates increase as you get older.

 Health insurance and Medicare generally do not cover long term custodial care (like ongoing help with daily activities). Medicare may pay for short-term stays in a skilled nursing facility after hospitalization, but it doesn’t cover extended care needs. That’s why long term care insurance exists—to fill that gap. 

 Yes. Many policies cover in-home care, so you can get assistance in the comfort of your own home instead of moving into a facility. This flexibility is one of the biggest benefits.

•  Protects your savings and assets from being depleted by care costs.
• Gives you more choices for quality care settings.
• Reduces the financial and emotional burden on your family.
• Provides peace of mind knowing you’ll have support if care is needed