What is Long Term Care Insurance Anyway?

Long Term Care Insurance

Did you know that November is Long Term Care Insurance Awareness month? Many people these days end up learning about long term care insurance due to tough circumstances. When a parent or older family member loses their independence by becoming unable to care for themselves can be a really hard experience to go through. I have watched family members lose the ability to care for themselves and as a result they have to receive daily care, go to assisted living facilities or to a nursing home. Getting older and everything that comes with aging is hard enough. When trying to care for family members and at the same time go on with your daily life and work responsibilities, it can be very trying.

In addition to the emotional aspect of taking care of older parents or family members, there is a significant cost involved. The types of services that are needed to help take care of people, who need long term care, whether at home or in a facility, can put a strain on a family’s finances. And this is where long term care insurance comes in.

So what is long term care insurance? The 2010 National Association of Insurance Commissioners shopper guide page 2, defines it as “Someone with a prolonged physical illness, a disability or a cognitive impairment (such as Alzheimer’s disease) often needs long term care. Long term care helps one live as he or she is now”.

The idea behind long term care insurance is to help a person keep some form of independence. If you have a person living on their own and taking care of themselves and suddenly they can’t do everything they used to on their own, what do they do now? Long term care insurance services could provide assistance, like a home health aide to come into a home to help that person. This way the person can stay in their home longer and not immediately face the cost of skilled care in an assisted living or nursing home facility.

About the author: Dan Cody has been in the life insurance business for over 7 years. He loves playing a variety of instruments including the guitar, bass, drums, and piano. He also supports cancer research foundations and volunteers at local pet shelters. Dan enjoys helping customers understand life insurance, so they can find a solid policy that fits their needs. You can reach Dan at 1-800-651-1953 or DCody@Pivot.com.