What Is Considered Long Term Care Insurance?
61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaIn general terms, any long term care insurance policy or riders on an annuity or life insurance policy are considered to be coverage against the cost of assisted living at home or nursing home confinement. Long term care insurance is a critical product to mitigate those costs during retirement.Answered on August 5, 2013flag this answer.JPG)
63333 POINTSview profilePeggy MaceMost of the U.S.Long Term Care Insurance is an insurance policy that pays for the care you need if you are unable to care for yourself for extended periods of time, or for the rest of your life. It can pay a benefit that goes directly to a nursing home, or it can be a pay a benefit that goes to the insured person to pay for their own care. In the latter, the money can be used to hire someone inside the home, pay for assisted living, nursing home, or arrangements that best suit the Insured.Answered on August 5, 2013flag this answer
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