On average we live longer these days. That’s good of course, but it means that the chances of you or a member of your family needing long term care are higher than they used to be. No getting away from it, the older we get, the more likely we are to need looking after and being nursed for long periods time. Which is why Long Term Care Insurance is more important than ever.

Long term care (LTC) covers extended periods of nursing, either at the patient’s home or a nursing home. LTC insurance will pay for the services of necessary medical staff including a skilled nurse to look after, bathe, feed and dress the patient and help them with any possible rehabilitation. LTC can continue for many years and can help to manage conditions such as Alzheimer’s where there is currently no real prospect of recovery and a constant need for care-based nursing.

You may think that Medicare, Medicaid, or your health insurance will meet the costs of long term care, but that is not what they cover. Medicare and mainstream health insurance plans are there to take care of hospital and doctor costs not LTC. Medicaid is a welfare program and you will have to spend down your money and assets before you are poor enough to qualify. So unless you are willing able to meet the very high costs of long term care yourself you will want to think about taking out LTC Insurance to safeguard your family and your finances

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