A long-term care insurance (LTCI) policy is designed to provide coverage for a range of services and supports that individuals may need when they have difficulty performing everyday activities due to chronic illness, disability, or the effects of aging. While specific coverage can vary based on the insurance company and the policy you select, here are some common elements that long-term care (LTC) policies may cover:

  • Nursing Home Care: This typically includes coverage for care in a skilled nursing facility or a nursing home. It may cover room and board, as well as skilled nursing care.
  • Assisted Living Facility: Some policies cover the cost of care in an assisted living facility, which provides a lower level of care than a nursing home but still offers assistance with daily activities.
  • In-Home Care: Many policies cover home health care services, including skilled nursing care, physical therapy, occupational therapy, and personal care assistance provided in your own home.
  • Adult Day Care: Coverage for adult day care centers, where individuals can receive care and supervision during the day while family caregivers work or take a break.

"Our team of LTCI specialists will work with you to determine what coverage is important and which policies fit best. They will look at your health history, financial plan, and retirement goals."

  • Hospice Care: Some policies include coverage for hospice care services for terminally ill individuals.
  • Respite Care: This may cover short-term care to provide family caregivers with a break or relief from their caregiving responsibilities.
  • Medical Equipment and Supplies: Coverage for durable medical equipment and supplies that are necessary for the individual's care, such as wheelchairs, walkers, and home modifications.
  • Care Coordination and Case Management: Some policies offer services to help coordinate and manage the individual's care, ensuring they receive appropriate and necessary services.

It's important to note that LTCI policies vary widely in terms of coverage, cost, and conditions. The coverage you receive depends on the specific policy you purchase, so it's essential to carefully review and understand the terms and limitations of any policy you are considering.

  • Alzheimer's or Dementia Care: Specialized coverage for individuals with cognitive impairments or Alzheimer's disease may be available in some policies.
  • Personal Care Services: Assistance with activities of daily living (ADLs) such as bathing, continence, dressing, eating, toileting, and transferring.
  • Transportation Services: Coverage for transportation to medical appointments or other necessary outings.
  • Home Modifications: Some policies may cover the cost of making modifications to the insured person's home to accommodate their needs, such as installing ramps or grab bars.

It's important to note that LTCI policies vary widely in terms of coverage, cost, and conditions. The coverage you receive depends on the specific policy you purchase, so it's essential to carefully review and understand the terms and limitations of any policy you are considering. Additionally, LTCI is typically more affordable when purchased at a younger age, and premiums can vary based on factors such as age, health, and the amount of coverage selected.

Our team of LTCI specialists will work with you to determine what coverage is important and which policies fit best. They will look at your health history, financial plan, and retirement goals. Our team has decades of experience and focuses on education as opposed to pushy sales tactics. If you’d like to protect your retirement dollars, reach out today and find out if long-term care insurance is a good fit.