Unlike traditional health insurance, long-term care insurance is designed to cover long-term services and supports, including personal and custodial care in a variety of settings. These can be your home, a community organization, or other facility.

Long-term care insurance policies reimburse policyholders a daily amount (up to a pre-selected limit) for services to assist them with activities of daily living. The activities may include...

  • Bathing
  • Dressing
  • Eating

One can select a range of care options and benefits that allow you to get the services you need and where you need them.

The cost of your long-term care policy is based on:

  • How old you are when you buy the policy
  • The maximum amount that a policy will pay per day
  • The maximum number of days (years) that a policy will pay
  • The maximum amount of times per day times & the number of days determines the lifetime maximum amount that the policy will pay
  • Any optional benefits you choose, such as benefits that increase with inflation

NOTE: If you are in poor health or already receiving long-term care services, you may not qualify for long-term care insurance as most individual policies require medical underwriting.