What is long term care insurance?

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2014-01-30 01:18:05

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Unlike medical insurance, long-term care insurance can cover all the assistance you would need if you had a chronic or debilitating illness. If you're unable to care for yourself for an extended period of time, long term care would cover you. This might be in a nursing home or in your own home.

Although it's becoming very popular among Baby Boomers as they age, younger people are buying long term care insurance, too. Anyone can be in an accident. The U.S. G.A.O. estimates that 40 percent of the 13 million people receiving long-term care services are between the ages of 18 and 64.

Long term care (LTC) insurance is a policy that secures financing your long term care needs, benefits are usually triggered if a policy owner develops a chronic illness or if he or she is unable to perform two or three activities of daily living including eating, dressing, bathing, etc. It pays for expenses not covered by health insurance, it is more focused on custodial of personal care providing you with options on different long term care setting (nursing homes, alf, in home, adult day care, hospice and custodia care) depending on where, what and how you want to be taken cared of.

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2014-01-30 01:18:05
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How can you find long term insurance care cost?

There are many ways to find long term insurance care. Long term insurance care can be found on websites such as Nationwide, LongTermCare, and CompareLongTermCare.

Which companies offer federal long term care insurance?

The Federal Long Term Care Insurance Program (FLTCIP) specializes in offering federal long term care insurance to eligible groups and their relatives.

Where can one find long term care insurance?

One can find long term care insurance at many various health insurance websites like Blue Cross and Blue Shield. They have many options for long term care insurance.

Is long term care insurance the same as long term disability insurance?

Long-Term Care insurance protects asstes, disability income protects incomeNo, long term care insurance covers all the costs of a caregiver that is not covered by Medicare, Medicate and disability insurance. These services are quite extensive and expensive.

Where can one take out a long term care insurance policy?

One can take out a long term care insurance policy from several different places. Some of the places in which one can take out a long term care insurance policy from are: Long Term Insure Me, and Own Your Own Future.

What are some companies that sell long term care insurance?

Companies that sell long term care insurance are American Fidelity Assurance, Berkshire Life Insurance, MedAmerica Insurance and Prudential Insurance.

How can one get long term health insurance in the US?

One can get long term health insurance in the United States from LTC Insurance and AARP Medical Insurance. One can also get long term insurance from Long Term Care and Kaiser Permanente.

Are there insurance policies that cover only custodial care?

An insurance policy that covers custodial or personal care is a long term care insurance, generally, long term care insurance covers things that are not covered by health insurance. If you are unable to perform activities of daily living, or need assistance due to disability and chronic illness, long term care insurance covers these services. However, you need to buy it before your develop a condition that would require you to be on long term care

What is the cost of Long term care insurance?

The cost of long term care insurance depends on your purchase age, location, and the benefits and policy features you choose.

What has the author Valerie VanBooven written?

Valerie VanBooven has written: 'Aging answers' -- subject(s): Insurance, Long-term care, Long-term care, Older people 'The Senior Solution' -- subject(s): Long-term care, Long-term care insurance, Older people

Where can one compare long term care insurance rates?

One can contact insurance companies directly or work with a broker to collect and compare offers for long term care insurance. Alternatively, websites like Compare Long Term Care can provide such a list for comparison.

Are long-term care insurance policies the same?

Currently, there is no universal standard for defining long-term care facilities.

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