What is Covered by Term Care Insurance?

By Compuquotes Team on May 9th, 2008

Long Term Care

The decision to pay for long term care insurance is one that increasingly makes sense for more and more people. With life spans increasing and the cost of long term care edging higher and higher, it's important that you make sure that your needs will be met if you ever need long term care. Long term care insurance is one way to be certain that your care needs will be met if and when you are ever unable to live independently without assistance.

Like any other type of insurance, your policy determines exactly what your long term care insurance will cover. Before you choose a long term care policy, you should review the policy carefully so that you know exactly what will be covered. Typically, long term care insurance will cover some or most of the following:

  • Help to remain in your home

Most long term care insurance policies will cover the cost of in home care that will help you remain in your home. That assistance may include home health aides to help you with bathing, dressing and other activities of daily living; homemakers who can assist you with cleaning and cooking; visiting nurses to monitor your health; physical, occupational and other therapies to maintain and improve your level of functioning. Many insurers would prefer to pay the lower costs of home care - and not just because it's cheaper for them in the short run. Studies have shown that elders who remain in their own homes are far less likely to require other medical care than those who live in nursing care facilities.

  • Community program fees and charges

Many communities offer programs that are designed to help elders remain at home, or to provide part time care to give respite to family members. Those programs include adult day care programs, social programs for elders, meals on wheels type programs and other mobile access programs for older adults and senior citizens. Some long term care insurance providers will cover any fees associated with community programs that provide long term care or enable an elder to remain out of nursing home care.

  • Assisted living services

Assisted living complexes and programs are among the most popular new way for older adults to live. Many of these senior living communities offer a graduated scale of care for residents that range from meals options to full care. They most often offer social outlets, assistance with care and housekeeping and medical monitoring. The cost of assisted living services depends on the level of care needed, but is generally considerably less expensive - and more independent - than nursing home care.

  • Nursing Home Care

Nursing home care is the option that most people think of first when they consider long term care. It is usually the most expensive option, and is the option that is most often covered by long term care policies.

Be certain to read your policy carefully before signing it so that you know

  • your benefit level
  • your waiting period

-your benefit period

  • whether you have forfeiture protection
  • whether you have inflation protection

Long term care insurance may not be for everyone, but it is for an increasing number of people in today's world. Before you decide that you're covered if you should ever need long term care, sit down with a long term care calculator and figure out how much help you may need to live your life the way that you want to live it.

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