Long-term care is the assistance needed over an extended period of time to manage rather than cure a chronic condition such as arthritis, a stroke, dementia, the frailties of aging, recovery from surgery or accident. It includes Home Health Care, Intermediate, Convalescent and Nursing Home Care. Although commonly thought of as a problem of the aged, accidents and illnesses befall many younger people as well. Long-Term Care Insurance is an important piece to overall financial planning. Many people mistakenly believe that their current health plan or Medicare will pay for Long Term Care, but this is frequently not the case. Long-Term Care Insurance can protect your assets in the unfortunate event should you or a loved one experience a need for professional long term care.
Depending on the policy, coverage includes:
Help with Daily Living Activities (bathing, dressing, etc.)