Long-Term Care Insurance

Long-term medical care can be frightening and financially draining. Daily healthcare is expensive, but the burden is lighter when you have long-term care insurance.

A long-term care policy goes into effect when a person requires regular, sometimes daily basis, medical care for at least 90 days. If you are having difficulty taking care of typical daily tasks or self-care, then a long-term caregiver may be necessary. This coverage can pay that expense.

Long-term care is often thought of as something needed by the elderly. But a young person with a mental or physical disability could need help as well. Caregivers deal with daily activities of a person under their care. This care usually takes place in the home.

For this policy to remain active, a monthly premium is paid to an insurance provider. As long as payments stay regular, then costs are covered and often non-taxable. Costs for adult day-care, assisted living and nursing home care can be covered with this insurance. Out-of-pocket costs for prescriptions, needles, and canes can be covered as well.

Long-term insurance coverage helps pay for expensive medical treatment. Choose a premium you can afford, and then plan the level of care that fits into your budget. Long-term care coverage might save you financially when you need long-term medical care.