Long-term care insurance (LTCI) is a type of insurance policy designed to cover the future costs of care associated with a chronic condition or disability that requires extended or long-term care, provides hands-on assistance or standby assistance to individuals who have functional or cognitive impairments associated with basic activities of daily living. If a policyholder becomes eligible for long-term care, the LTCI policy provides a daily cash amount to pay for the care.  

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Medicare does not cover long-term care.  This insurance protects people from using their assets or home to pay for care.  It also protects a spouse should one person need care so the healthy spouse can use their funds for retirement, not healthcare.

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Types of Insurance:

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* Long Term Care Insurance Policy- These are the standard policies that pay for care in your own home, an assisted living facility, memory care, or skilled care.

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* Long-term care hybrid-  These policies are either annuities with a long-term care rider or an insurance policy with a long-term care rider.  They. are best for people who have a larger down payment and wish to be able to use it or possibly leave money for their heirs.  They can also provide unlimited care, unlike a traditional plan.​​​​​​

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