Long-Term Care Insurance

Long-Term Care insurance (LTCi) pays primarily for the assistance you may need when you are not able to do some of the basic daily activities (like bathing or dressing) for more than 90 days or so.

You might need LTCi, if you suffer from an injury at any age or from general frailty caused by advanced age, including cognitive impairment. LTCi is designed to pay for custodial and many other kinds of services, which are not covered by Medicare and most other types of Health insurance. For example, Health insurance won’t pay to friends or relatives that are helping you, and usually won’t pay for more than 100 days after a hospital confinement.

Of course, from the viewpoint of long-term care there is nothing better than loving and dedicated children and other family and friends, who are living under the same roof with you. Yet in most cases this is not an option, and it’s still very hard on caregivers and very expensive. That’s why one recent study after another show that cost and availability of long-term care is number one concern of retirement age population, which is looking for solutions.

This has created a dynamic environment, where many new options emerge all the time for all kinds of financial and health situations. Many of them are addressing the requirements of those, who want to stay in their homes rather than live in assisted living facilities and nursing homes.