How Does Long Term Care Insurance Work?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Most Long Term Care Insurance policies pay the insured person a set amount of money, as dictated by the policy they purchased, when the need for long term care arises. There are triggers that determine when payments will start. These include the inability to independently do to or more ADL's (activities of daily living such as bathing or dressing). Some policies pay the institution providing the care rather than the person receiving the care. Payments are made until the funds or years in the policy run out.
    Answered on September 29, 2013
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