Long-term care insurance helps pay for services that assist with daily living activities when an individual becomes unable to care for themselves due to chronic illness, disability, or aging.
- Example:
In-Home Care: Long-term care insurance can cover the cost of hiring home health aides who assist with tasks like bathing, dressing, and meal preparation for individuals who are no longer able to perform these tasks themselves.- Nursing Home Coverage: If a policyholder requires a nursing home or assisted living facility, long-term care insurance can cover the cost of housing, meals, and medical care in these facilities. This is especially important since Medicare typically doesn’t cover long-term care.
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