Long-term care is a topic many people prefer to avoid. But simply ignoring it isn’t helpful. Planning early for long-term care costs and who’s going to pay for them may help ease the burden down the road, and allow you to face future decisions with greater confidence. Read on to learn the basics of long-term care insurance and how it could benefit you and your loved ones.
What Is Long-Term Care?
Long-term care comes in many forms, and can even be delivered at home. But unlike standard health care, long-term care differs in terms of how its costs are covered. Check out our introduction to long-term care insurance to find out more.
What Are My Long-Term Care Options?
When it comes to long-term care delivery and policies to cover it, you do have choices:
- Skilled nursing - Facilities providing round-the-clock professional care with immediate access to medical treatments when necessary.
- Assisted living I – Residential facilitates with medical professionals onsite, and can provide various levels of assistance based on a patient’s needs.
- In-home care – Allows the patient to remain at home while still receiving professional care as their condition requires.
With good planning, you don’t need to saddle your kids with a bunch of unpaid medical bills after you’re gone. Here are some basics:
All guarantees and benefits of the insurance policy are backed by the claims-paying ability of the issuing insurance company.
Approval for coverage under the policy and attached LTC riders is subject to underwriting and may require a medical exam.
Policy guarantees and benefits are not backed by the broker/dealer and/or insurance agency selling the policy, nor by any of their affiliates, and none of them makes any representations or guarantees regarding the claims-paying ability of the issuing insurance company.