How is long-term care insurance defined?

Long-term care insurance is specifically designed to provide financial assistance for individuals who require care due to chronic illnesses, disabilities, or other long-lasting medical conditions. This type of insurance covers services that help with activities of daily living, such as bathing, dressing, and eating, which may not necessarily be covered by traditional health insurance or Medicare.

The focus of long-term care insurance is on supporting individuals who need ongoing assistance rather than just addressing short-term health issues. This makes it distinctively important for those who may find themselves in situations requiring extended support, as it can significantly alleviate the financial burden associated with long-term care services such as in-home care, assisted living facilities, or nursing homes.