Long-term care insurance provides invaluable relief to policyholders and their families, but what exactly is it? Here are four basic questions to walk you through learning more about this type of insurance.
What is Long-Term Care Insurance?
This type of insurance is a custom-fit coverage designed to pay for the person’s long-term care requirements. Read more
Are there different types of Long-Term Care Insurance?
Yes, there are three types: indemnity policy, reimbursement policy, and partnership policy. These three policies each have specific variations that cater to different types of needs. Read more
How Much Does Long-Term Care Insurance Cost?
There is no set price for long term care insurance because it depends on the individual’s age, health, chosen level of coverage, location, and insurance policy. Read more
Where Can I Purchase a Long-Term Care Insurance Policy?
LTC insurance is available through three venues:
- LTC insurance companies and carriers
- Your employers
- State partnership programs
Alternatives to Long-Term Care Insurance
There are other financial products and strategies that will allow you to pay for long-term care:
- Life insurance
- Reverse mortgage