Long-term care insurance (LTCI) is a type of insurance that helps cover the costs of long-term care for people who are unable to care for themselves due to a disability or chronic illness. LTCI can pay for a variety of services, including:
Home health care
Assisted living or nursing home care
Adult day care
Respite care
Help with activities of daily living
Hospice care
Caregiver training
Household chores
LTCI policies can vary in terms of coverage amount, length, and waiting period. Some policies may also combine long-term care coverage with life insurance or an annuity.
Factors that may affect the cost of LTCI include:
Age and health: Older people and those with more health issues may pay more
Gender: Women may pay more than men
Marital status: Married people may pay less than single people
Insurance company: Prices may vary between insurance companies
Amount of coverage: More coverage, such as higher limits or fewer restrictions, may cost more
LTCI is available even if you have pre-existing conditions, but the insurer may have a waiting period. Give me a call today to learn more about LTC coverage and for your free Long-Term Care quote will all the top insurance providers! Brain Borshoff (317) 846-1005