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Long-Term Insurance

Long-Term insurance is the kind of insurance that assists in paying for the care of individuals who cannot care for themselves. This kind of coverage is not necessarily related to a specific medical issue, but more specifically addresses the issue of mobility. Most employer-provided medical insurance policies may have some long-term care benefits, but they are often quite limited.

With long term insurance, it is highly recommended to purchase the best you can afford as this coverage will help to provide for those having financial difficulties due to the high cost of long-term care. Long term care is almost never covered by normal health insurance or by government provided healthcare programs like Medicare or Medicaid. This kind of insurance will provide financial assistance to those who must face a challenging health issue for an extended period; it is a means to reduce stress and worry as long term care can drain a normal person’s finances and cause ruin. Long-term care is usually measured in months, often in increments of 12 to 24 months. Older adults may become incapacitated due to age as well as a condition or illness. These folks may often need assistance for the rest of their lives and, again, Medicare will not cover assisted living or nursing care expenses in these instances.

With many policies of this kind, there is an elimination period. This basically serves as a deductible for the policy. A certain time period must go by before the coverage kicks in to pay for care. This is usually a term of between one and four months. It is important to note that the longer the elimination period, the lower the premiums generally are.

Although many people conceive of long-term care as living in a nursing home, having this kind of coverage will help pay for many things that an individual needs to maintain his or her independence. This can include practically anything that one needs in daily life that they can no longer accomplish themselves.

The benefits of this kind of coverage are wide ranging and are designed around the policyholder’s needs. Often benefits include having a visiting nurse who will help in areas of hygiene such as bathing. It can also include help with grocery shopping and the preparation meals. Policies often also help in paying for resident care- This includes convalescent homes where patients are given the round-the-clock care.