Long-term care (LTC) insurance primarily pays for supervision or assistance with everyday tasks (such as bathing or dressing) when you have a physical impairment, or need supervision of these activities when you have a cognitive impairment such as dementia caused by Alzheimer’s disease. LTC takes place at home, in a community program, in an assisted living facility (ALF) or in a nursing home. LTC services are often provided by family members or nurses’ aides, and do not require the skilled care that nurses and doctors are licensed to provide.
LTC insurance benefits may be part of a life insurance or annuity policy, or contained in a freestanding LTC policy.
This section focuses on LTC insurance benefits contained in freestanding LTC policies. Insurance policies that also provide life insurance or annuity benefits are not explained. These policies are complex financial products that require professional assistance, and may have income-tax or estate-tax implications. You should consult a trusted financial advisor if you are considering combining life and annuity benefits with LTC benefits.
AARP Report: Comparing Long-Term Care Insurance Policies: Bewildering Choices for Consumers — Reviews the LTC insurance options available to consumers and offers recommendations; by Bonnie Burns, Training and Policy Specialist, CHA
In this section:
Learn about LTC insurance, the different types available and general requirements.
Find out what you should know before buying LTC insurance, including information about benefits, waiting periods and insurance agents.
Review LTC costs, public and private programs that help pay for care, and where LTC is provided.
Discover the many options where you can receive LTC, including in your home, community day care facilities and various alternative living arrangements.
Learn the answers to 15 common questions about LTC insurance.
Helpful fact sheets and information about LTC insurance.