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Long Term Care Insurance

Long term care insurance protects individuals and families from the financially devastating cost of long term care.  This insurance not only offers protection against the costs of nursing homes, but it also pays for care in the home and assisted living.  Other types of care covered by long term care insurance include adult daycare and Hospice care.

With family members taking jobs in other cities or states and doctors extending life but not always the quality of life, this insurance has become more wide spread and relevant.  In fact, you may know someone or many different people who have already purchased the insurance.

Long term care insurance is available to individuals ages 18 to 84, and there are still a few companies that will offer coverage up to age 90.  The age that a person purchases coverage is declining every year.  A decade ago, the average buyer was around 65 years old, but today that numbers has fallen to age 55.  This is as a result of more frequent experiences with long term care for younger adults assisting their parents find and receive care.

Long term care is needed when we are unable to perform six recognized activities of daily living.  These six activities are eating, dressing, bathing, toileting, continence, and transferring. Transferring can best be described as moving from point A to point B such as getting out of bed or making your way across the room.

Another way in which people are medically classified as needing long term care is when they have a cognitive impairment.  The best example of this would be Alzheimer’s disease