LONG-TERM CARE INSURANCE
What It Is
Coverage that helps pay for help with Activities of Daily Living (ADLs) or cognitive impairment — at home, in assisted living, or in a nursing facility.
What It Matters
Medicare generally doesn’t cover custodial long-term care. Without coverage, costs are paid from savings or family support
What it Covers
- Home care, assisted living, nursing home
- Adult day care, care coordination, caregiver training
- Limited home modifications
Benefit Triggers
Benefits typically start when you can’t perform two or more ADLs or have a qualifying cognitive impairment.
Flexability
- Traditional LTC policies
- Hybrid life/LTC policies
- Inflation protection riders
- Cash benefit options
When to Buy
Approval odds and premiums are better when you apply while healthy.