Insurance
long-term care insurance
Long-term care insurance pays part of the cost of extended help with daily living, such as home care or a care facility, when a long illness or aging limits what you can do.
Long-term care insurance is a policy that helps pay for extended care when you can no longer manage daily tasks like bathing, dressing or eating. That care can happen at home, in assisted living or in a nursing facility. Check what your health coverage pays for this kind of care.
How it works. You pay premiums. When a doctor certifies that you meet the policy's rules, the policy pays benefits up to a daily or monthly limit for a set period. Policies differ in waiting periods, benefit amounts and inflation features. Some pair life insurance with long-term care benefits.
A round example. For example, a policy might pay $200 a day toward care after a waiting period of 90 days. These numbers are for illustration only and do not describe any policy.
Why it matters to your plan. Care costs can drain the savings you meant for your spouse, your heirs and your giving. A review weighs premiums against the chance of needing care. Seek First reviews long-term care coverage under Risk Management. See our insurance review guide.
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