Uses for Long Term Care Insurance
It is unpleasant to think you will ever need long term medical care. But the truth is you might someday find yourself unable to take a bath or prepare a meal on your own. If you ever need help performing basic activities of daily living, then you will need long term care insurance. Most of these policies are for elderly adults, but they can also offer benefits to younger people in need.
The expenses covered by this type of policy depend on the provider. But you can expect any policy to cover the costs of daily hands-on care. This includes stays in a nursing home or similar facility, as well as a visiting nurse or assistant who provides care at your home.
You may or may not find this coverage offered as a workplace benefit. If it is not offered, then you will need to purchase coverage on your own. You should consider long term care insurance while you are healthy. It is cheaper to get a policy early in life while you are healthy, and it gives you protection against sudden illness or disease. Speak with an insurance agent to learn if long term care insurance is right for you.