Does long-term care insurance help me avoid moving into a facility?
Yes, it can. Long-term care insurance funds can be used to bring care into your home so you can stay there longer.
Who should have long-term care insurance?
If you’re concerned about your retirement savings lasting long enough if you fall ill, then long-term care insurance may be for you. If government programs aren’t going to supplement your income in case you become ill, long-term care insurance may be for you. If you want to protect your nest egg from the potential expense of long-term care as you age, long-term care insurance may be the right choice for you.
How much does long-term care insurance cost?
That depends on several factors, such as:
- Your age and health when you apply for coverage
- The amount of coverage you choose
- How long you want to receive coverage
- Which waiting period you choose
How long is the long-term care insurance waiting period?
Most long-term care insurance coverages require 30 – 180 days of continuous dependency, sometimes longer, before you’re eligible to make a claim.
