SERVICES

Long Term Care Insurance

Long Term Care Reinsurance

What Is Long-Term Care (LTC) Insurance?

Long-term care (LTC) insurance is private insurance coverage that provides nursing-home care, home-health care, and daycare for individuals age 65 or older or with a chronic or disabling condition that needs constant supervision. LTC insurance offers more flexibility and options than many public assistance programs, such as Medicaid.

Key Points

Long-term care insurance usually covers all or part of assisted living facilities and in-home care for people 65 or older or with a chronic condition that needs constant care.

Long-term care insurance offers more flexibility and options than Medicaid.

Understanding Long-Term Care (LTC) Insurance

Many people are unable to, or prefer not to, rely on children or family members for support.  They can purchase buy long-term care insurance protection to help manage out-of-pocket expenses. Otherwise, long-term care expenses could quickly deplete the savings of an individual and/or their family.

Long-term care insurance usually covers all or part of assisted living facilities and in-home care. Medicaid rarely does. Full home care coverage is an option with long-term care insurance. It can cover expenses for a visiting or live-in caregiver, companion, housekeeper, therapist or private duty nurse up to seven days a week, 24 hours per day, up to the policy benefit maximum.

Most long-term care policies will cover a specific dollar amount for each day you spend in a nursing facility or for each home-care visit.