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I need advice on long term care insurance

Am 70 years old, my husband 62. Don't want to be a burden to my family. Would like information on long term care insurance. Is the insurance for specific ailments? Your assistance is greatly appreciated.

Thank you.
Status: Open    Apr 20, 2016 - 12:23 PM


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3 answers

Expert Answers

Apr 21, 2016 - 09:17 AM

It is challenging to give one broad answer since each long term care insurance (LTCi) policy is unique, so the answer is technically that “it depends.” However, there are some general rules from insurance carriers that FHS encounters when we help seniors use their LTCi policies for long-term care (mostly for home care, but we help people who move into Assisted Living Facilities also). Needing assistance with Activities of Daily Living, or “ADL’s” are the factors or “triggers” the insurance companies are looking for to determine your eligibility for home care. Usually the requirement is needing assistance with at least 2 of 6 ADL’s. The ADL’s are: bathing, eating, dressing, toileting, transferring, and continence management. Another factor that is typically approved by insurance companies is cognitive impairment (Alzheimer’s, dementia, etc.) If you or your loved one is suffering from a cognitive disease and you want to use ar LTCi policy to help pay for care, your insurance carrier will most likely require a Cognitive Impairment test or some other form of proof by a nurse or physician.


Apr 21, 2016 - 08:54 AM

Every policy is different so you will need to speak with a representative from the insurance company. However, typically long term care insurance provides coverage for people who need assistance with their ADL's or Acitivities of Daily Living. These include things like bathing, dressing, toileting, transfers and meal preperation. Some policies will only cover care in a facility, some only at home and some will cover both. It is also very difficult for elderly people to obtain this insurance. Most companies will not provide new coverage for someone over the age of 60. As I menitioned previously, each policy is different and each company is different so you really need to speak with a representative from the insurance companies. They will provide this information free of charge. I hope this helps.

Apr 21, 2016 - 08:59 AM

A reputable insurance agent who is licensed to sell long term care insurance in your state should be able to answer all of your questions.
Policies vary by state and company. Your agent should provide you with the NAIC Guide to Long Term Care Insurance. It will answer most of your questions.
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