Long term care insurance is an insurance
product which pays for long term care services in many settings,
such as
at home, a
nursing home,
assisted living facility, and
adult day care facility.
Many people elect to buy long term care
insurance so they will not need to deplete their savings should
they need long term care services. Long term care insurance can
help ensure that financial resources and support are in place
when you need them.
First, you must apply for coverage. If you
are approved for coverage, pay your premiums, and you meet the insurance carrier’s
criteria for benefit payment, you will be reimbursed for covered
long term care services up to the amount of daily benefit after you satisfy the
Waiting Period.
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