Does Long Term Care Insurance Pay For Assisted Living?

  1. 11783 POINTS
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    Larry GilmorePRO
    Agent Owner, Gilmore Insurance Services, Marysville, Washington State
    Does long term care pay for assisted living?  It can, if you choose it as part of your policy make up. Long term care really is a plan the insured puts together for the coverage they want for themselves.  You can add or subtract services that will change the premium.
    Answered on May 13, 2013
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  2. 12689 POINTS
    Ted Ratliff
    Owner, SFS Associates,
    It depends on the policy.  Many will pay for assisted living depending.  Most long term care policies are activated by what they call "triggers".  You must be, in most cases, unable to preform at least two activities of daily living or be cognitively impaired.  An activity of daily living may be dressing, toileting, bathing, eating, mobility that type of things.  Cognitively impaired would be things like alzheimer's or diagnosed dementia.
    Answered on May 13, 2013
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    David RacichPRO
    Fountain Hills, Arizona
    Every long term care insurance (LTCi) addresses assisted living benefits. And since assisted living benefits at home is the preferred extended care option, it’s really important to compare the language of each policy before you purchase LTCi. The good news is the the LTCi market is comprised of six insurance companies whose market share represents almost the entire LTCi inventory of carriers. So it’s fairly simple to secure spreadsheets comparing the policy provisions of each company. 
    Answered on June 5, 2013
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