Long-term care insurance (LTCI) in the U.S. and Canada helps pay
for costs not covered by private medical insurance. This type of
plan can help minimize the financial impact of long-term health
care needs. In general, long-term care insurance will cover the
cost of home care, assisted living, adult daycare, respite care,
hospice care, nursing home and Alzheimer's care facilities. Most
companies will not insure people with preexisting conditions; it's
easier to buy LTCI before health issues arise.