Long-Term Care Insurance

health disability

Insurance that covers the cost of long-term care services, including assisted living, nursing home care, in-home care, and adult day care. LTC insurance helps protect your savings from the high cost of extended care, which Medicare does not cover.

Example

A 55-year-old buys an LTC policy with a $200/day benefit, 3-year benefit period, and 90-day elimination period. At age 78, they need assisted living at $5,500/month. The policy pays $6,000/month (30 days x $200) after the 90-day elimination period.

Disclaimer: This content is for educational and informational purposes only and does not constitute financial, legal, or tax advice. Products and services mentioned may not be available in all states. All insurance products are subject to underwriting and policy terms. Consult a licensed professional for advice specific to your situation.