What does long-term care insurance cover?

Long-term care insurance specifically covers the costs associated with long-term care services, which is essential for individuals who may need assistance with daily activities due to chronic illness, disability, or aging. This type of insurance is designed to cover services like nursing home stays, assisted living facilities, and in-home care, which are not typically covered by traditional health insurance or Medicare.

By focusing on these particular services, long-term care insurance helps to alleviate the financial burden that can arise from the need for extended assistance, whether in a facility or at home. This planning is crucial given the high costs often associated with such care, making long-term care insurance an important component of many individuals' financial strategies as they prepare for potential future health challenges.