Long-term care is the type of care that you may need if you can no longer perform “activities of daily living“ by yourself, such as eating, bathing or getting dressed. It also includes the kind of care you would need if you had a severe cognitive impairment like Alzheimer’s disease.
If you, your spouse or family member were to need long term care, the cost could deplete more than your own hard-earned assets. However, long-term care can be covered completely or in part by long-term care insurance. Without long term care insurance, the financial burden of caring for you could fall on your family. Most long-term care insurance plans let you choose the amount of the coverage you want, as well as how and where you want to use your benefits. A comprehensive plan includes benefits for all levels of care, custodial to skilled.
Long-term care is not the type of care that you receive in the hospital or your doctor’s office. It is not the medical care you need to get well from a sickness or an injury, and it isn’t short-term rehabilitation from an accident or recuperation from surgery. Care can be received in a variety of settings, including your own home, assisted living facilities, adult day care centers or hospice facilities.
3 comments:
Long term care insurance has a huge benefit to people who are old or have illnesses. If an individual do not want to burden his family by taking care of him if he has sickness or he is already old, getting long term care insurance can greatly help him.
Long term care insurance is designed with a specific purpose in mind. How can long-term care insurance help you? It can help you in some ways if you become unable to care for yourself or need special services.
Long term care insurance is a necessity these days and people with family history should consider purchasing this early. This is beneficial to people who will most likely develop chronic illnesses and will require extensive long term care for a long time. With the price of long term care on the rise, you can't afford this just by using your savings and assets. You will exhaust everything eventually unlike when you invest into something like this private coverage. I'm not saying that everyone should buy this. People with high probability of long term care needs in the future should obtain this.
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