Yes, Long Term Care Insurance can pay for nursing home expenses, or for extended care offered by assisted living, or even in home services, in some situations.
Long Term Care Insurance kicks in when the insured person meets certain triggers (inability to do two or more activities of daily living such as showering or dressing without assistance, cognitive impairment, and/or the care is ordered by a doctor). Payments can go directly to the nursing home or place providing that care, or the payment can go to the insured person, who in turn pays the source of his/her care.
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Long Term Care Insurance kicks in when the insured person meets certain triggers (inability to do two or more activities of daily living such as showering or dressing without assistance, cognitive impairment, and/or the care is ordered by a doctor). Payments can go directly to the nursing home or place providing that care, or the payment can go to the insured person, who in turn pays the source of his/her care.