Long-Term Care Insurance Plan FAQs

Many people will need long‑term care at some point due to aging, chronic illness, disability, or cognitive decline. Long‑term care insurance helps protect your savings, reduces financial stress on your family, and ensures you have access to quality care in the setting you prefer.

Coverage varies by plan, but most policies include:

Home‑based care:

• Skilled nursing
• Personal care assistance
• Therapy services
• Homemaker services
• In‑home health aides

Facility‑based care:

• Assisted living
• Nursing homes
• Memory care units
• Rehabilitation centers

Additional support:

• Care coordination
• Respite care
• Medical equipment and supplies

No. Long‑term care insurance is supplemental. It works alongside your existing health insurance or Medicare to cover services that those plans typically do not.

Most policies require that you are unable to perform two or more Activities of Daily Living (ADLs), such as bathing, dressing, eating, toileting, transferring, or continence. Cognitive impairment, such as dementia, may also qualify you for benefits.

Depending on the policy, benefits may be paid:

• Directly to you as a cash benefit, or
• Directly to the care provider

You can then use the funds to pay for approved long‑term care services.

Yes. Most policies include an elimination period (often 30–90 days) before benefits start. This is similar to a deductible but measured in time rather than money. 

Premiums depend on:

• Your age
• Your health
• The amount of coverage you choose
• The length of benefit payments
• Whether you select inflation protection

Buying coverage earlier in life typically results in lower premiums.

Yes. One of the biggest advantages of long‑term care insurance is flexibility. You can choose:

• Home care
• Assisted living
• Nursing home care
• Memory care
• Adult day care

You decide what works best for your needs and lifestyle.

Coverage for pre‑existing conditions varies by insurer. Some policies may exclude them for a certain period, while others may not cover them at all. Reviewing your policy details is important. 

Yes. Long‑term care insurance is fully portable. It stays with you regardless of employment changes.

The process usually includes:

• Submitting a claim form
• Providing medical documentation showing your need for long‑term care
• Completing an assessment with the insurer, if required

Once approved, benefits begin after the elimination period.