Long-term care (LTC) insurance helps pay for services you may need if you become unable to care for yourself due to aging, chronic illness, disability, or cognitive impairment. Coverage may include care at home, assisted living, adult day care, or nursing home facilities.

Many people begin exploring coverage in their 50s or early 60s. Applying while younger and healthier may provide more options and lower premiums. Eligibility and pricing depend on your health, age, and coverage.

Federal estimates have suggested that approximately 70% of adults turning 65 will need some form of long-term services and supports during their remaining years. Verify the current estimate before publication.

Medicare generally does not cover ongoing custodial care, such as assistance with bathing, dressing, or eating. It may cover certain short-term skilled nursing or home health services when eligibility requirements are met.

Costs vary significantly by location and type of care. Home health assistance, assisted living, and nursing home care can cost thousands of dollars per month, potentially reducing retirement savings.

Yes. It can help reduce the amount of personal savings used to pay for qualifying care, potentially helping preserve retirement assets and your family’s financial legacy.

Your coverage needs depend on your age, health, family circumstances, retirement savings, local care costs, and preferences. A personalized review can help identify appropriate benefits and coverage periods.