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What is "long-term care insurance", and how does it work?

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What is "long-term care insurance", and how does it work?

Long-term care insurance is becoming one of the hot topics today in discussion. The baby boomers are starting to see their parents needing long-term care. In fact, some of the baby boomers themselves are needing long-term care. What a long-term care policy is, is a promise from an insurance company, a contract just like a life insurance contract, in which the insurance company, a life insurance company, says that should you be unable to take care of yourself as you get older and things happen, you have strokes, Alzheimers, severe dementia, or back disorders so severe you can't even get out of bed. One of the problems is that you have to hire people or you have to go into a facility where they can take care of you. The cost of this is astronomical. So a long-term care policy handles this need, it pays you a certain amount of money per month to take care of the costs, whether you are in a facility or whether you're at your own home and someone's hired to take care of you.

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What is "long-term care insurance", and how does it work?

What is "long-term care insurance", and how does it work?

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What is "long-term care insurance", and how does it work?

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