long-term care

Long-term care (LTC) insurance covers expenses for services like nursing home care and assisted living, often not included in regular health insurance. Benefits include asset protection, independence, and reducing family caregiving burdens. Key types include traditional LTC insurance, life insurance with LTC riders, and short-term care insurance. Careful consideration and financial advice are crucial.

Long-term care (LTC) supports individuals with chronic illnesses or disabilities, with about 70% of people over 65 needing it at some point. It can be costly and emotionally taxing for caregivers. Planning is crucial, involving savings, insurance, and financial advice. With aging demographics, LTC’s importance will grow.