What is "long-term care insurance"?

Long-term care insurance is designed to provide coverage for assistance with chronic illnesses or disabilities that require extended care. This type of insurance focuses on helping individuals who may not be able to perform daily activities independently, such as bathing, dressing, or eating, due to prolonged health issues. It can cover a variety of services, including in-home care, assisted living facilities, and nursing homes, addressing the needs of individuals who require support over an extended period, rather than just temporarily.

This coverage is crucial for many people as traditional health insurance typically does not cover long-term care services; these services can be costly and are often necessary for those who have chronic conditions or disabilities. By having this specific type of insurance, individuals can help manage the financial burden associated with long-term care needs, ensuring that they receive appropriate assistance and support for as long as necessary.