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Long-Term Care Insurance Basics

Unlike traditional health insurance, Long-Term Care (LTC) Insurance is designed to cover long-term services and supports, including personal and custodial care in a variety of settings such as your home, a community organization, or other facility.
LTC insurance policies reimburse policyholders a daily amount (up to a pre-selected limit) for services to assist them with activities of daily living such as bathing, dressing, or eating.  You can select a range of care options and benefits that allow you to get the services you need, where you need them.
The cost of your LTC 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 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
If you are in poor health or already receiving long-term care services, you may not qualify for LTC insurance as most individual policies require medical underwriting. In some cases, you may be able to buy a limited amount of coverage, or coverage at a higher “non-standard” rate.  Some group policies do not require underwriting.

Information from LongTermCare.Gov, What is Long-term Care Insurance?

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  • Home
  • Medicare
    • Medicare Basics
    • Medicare Part D
    • Medicare Advantage Plans
    • Medicare Supplement Plans
  • Long Term Care Insurance
  • Life
  • Dental
  • Contact
  • Additional Insurance Solutions
    • Short Term Medical Insurance
    • Supplemental Hospital Insurance
    • Accident and Critical Illness Insurance
    • Health Discount Program