What is long-term care insurance?

Q: What is long-term care insurance?

—Unsure

A: Dear Unsure:

Long-term care (LTC) insurance covers your basic daily needs over an extended period. While many think only the elderly need such care, LTC covers a wide demographic, including those of all ages with chronic illnesses, disabilities, or other conditions.

LTC can pay for long stays in nursing homes, assisted living facilities, or at-home care. The type of services covered include an array of personal needs, such as bathing, eating, using the bathroom, and moving around, along with more skilled care from nurses, therapists, and other professionals.

Some people believe traditional health insurance or Medicare will pay for such care. However, traditional health insurance policies cover acute medical care, but not LTC.  And though Medicare does cover short stays in a nursing home or some limited at-home care, you only qualify under strict conditions, like exhausting every penny of your savings first.

Without LTC insurance, an unforeseen accident or illness can end up costing you and your family massive sums of money, even to the point of financial ruin.

A Personal Family Lawyer®, can help you select an LTC policy that offers the highest quality care, while also protecting both your estate and family from unnecessary expense.