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FAQs About Long-Term Care Insurance

Most individuals who live to 65 and beyond will require long-term care at some point. Yet, most of them lack long-term care insurance. This means they’ll have to pay out of pocket for the expenses that Medicare doesn’t cover, and these expenses could total more than $140,000. You can prepare for your long-term care needs by speaking with an insurance agent about long-term care insurance.

What is long-term care insurance?

Every policy is a little different, and you can customize your coverage options to suit your anticipated future needs. In general, long-term care insurance covers personal and custodial care. This includes things like support for the activities of daily living.

What if I don’t plan to enter a nursing home?

Long-term care insurance is traditionally used to pay for nursing home care. However, lots of seniors plan to live out their lives at home, or perhaps in an assisted living or retirement community. Long-term care insurance can also cover the services you’ll receive in your own home or elsewhere. Some plans even cover respite care, which refers to short-term services.

When should I get long-term care insurance?

If you’re in good health and in your 50s or 60s, this is a great time to start shopping around for long-term care insurance. Since you’re currently a low risk to the insurance company, you can quality for great plans at low premiums. It’s financially prudent to purchase insurance before you need it. However, even if you’re in your 70s or early 80s, you may still be able to get long-term care insurance. Do note that your overall health will affect your premiums. Talk to an agent to find out more.

American Senior Benefits is an independent insurance agency serving Hudson, WI. Their specialty is helping seniors find the right coverage for their needs. If you’d like to inquire about long-term care insurance, you can call their office at (612) 865-3318.


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