medicarefaq (medicarefaq) wrote,

Understanding Long Term Care Insurance

Long term care insurance is a type of insurance designed to cover the long-term service and support required by an individual in any number of settings, from a community organization to the individual’s home.  This type of care is meant to provide for services that aren’t necessarily covered by standard health insurance.  Anyone considering signing up for long term care should understand more about what this policy is before making such an important decision.
Cost of Long Term Care
The cost of long term care insurance depends on several different factors.  The factors that go into this cost include:

  • Your age when purchasing the policy

  • The maximum amount of money that the policy covers per day

  • The maximum amount of days and years that the policy will cover

  • Additional benefits chosen by you to add to the benefits automatically included with the selected policy

It’s possible for some people who are already in poor health to not qualify for a long term care insurance policy.  This also applies to anyone already receiving some form of long term care.
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