Long-Term Care Insurance

Long-term care insurance is an insurance policy that helps cover the costs of extended care services—such as assistance with bathing, dressing, eating, or other activities of daily living—when someone has a chronic illness, disability, or cognitive impairment; it can pay for care received at home, in assisted living, nursing homes, or other settings, and reimburses policyholders up to daily and lifetime limits, which are chosen when the policy is purchased.