What is Long-Term Care Insurance?
Long-term care insurance is a type of coverage for seniors that helps cover the costs of daily assistance care such as eating, bathing and transferring in the case of chronic illness or disability, that are not typically covered by traditional health insurance or Medicare. Long-term care policies can be provided in the home, community, assisted living or nursing homes. A clear long-term care plan allows you to maximize your independence; and gives you the option to be covered anywhere you choose.
Family and friends at home are the sole caregivers for 70 percent of seniors 1
By 2020, 12 million older Americans will need long-term care 1
A study by the U.S. Department of Health and Human Services says that people who reach age 65 will likely have a 40 percent chance of entering a nursing home 1.