Long Term Care Insurance

Long term care insurance is beneficial to have when you need help performing daily chores, such as bathing and eating. Long term care can be expensive, and is usually not covered by Medicare or medical insurance. If you have this coverage, then you can get help paying for your care.

Long term care insurance may or may not be a benefit at your job. If not, then you can get it from an insurance agency. This coverage pays when a person is ill, disabled or elderly and unable to fully take care of their daily needs. If this policy is a benefit at your job, then you, your spouse and your immediate family members are included. Long term insurance features vary. Usually, it covers long term care that takes place at home, in an assisted living center, or in a nursing home.


Insurance companies usually pay 50 to 100 percent of long term care expenses. You will also have to consider the following:

• Benefit Period – How long is care needed? You choose how long care is to be provided, and options usually run from 2 to 10 years.

• Elimination Period – Policies do not pay for the first month, sometimes longer. This is the deductible period, and choices are often 30-, 60-, 90-, or 180-days.

• Shared Benefit for Couples – An option that allows one spouse to dip into the other spouse’s benefits.


The main benefit is you receive long term care insurance. You will get help paying expenses you would otherwise have to pay out of pocket.