Long Term Care
Long Term Care
A long-term care insurance policy helps cover the costs of care when you have a chronic medical condition: a disability or a disorder such as Alzheimer’s disease. Most policies will reimburse you for care given in a variety of places, such as:
- Your Home
- A Nursing Home
- An Assisted Living Facility
- An Adult Day Care Center
Considering long-term care costs is an important part of any long-range financial plan, especially in your 50s and beyond, waiting until you need care to buy coverage is not an option. You won’t qualify for long-term care insurance if you already have a debilitating condition. Most people with long-term care insurance buy it in their mid-40s to mid-50s.