What Is Long-Term Care Insurance, And Is It Right for You?
Many people don’t think about how their medical needs change as they age. When you’re healthy, it’s challenging to picture a time you’d need help performing basic tasks like getting dressed in the morning, walking the dog, doing the laundry, and other “long-term care” needs. But those situations are far more common than you might initially realize. Caregiving for daily tasks is not only prevalent but also costly. And since Medicare doesn’t cover long-term care, without protection, you could be stuck paying for all the bills yourself. One option to pay for these extended needs is through long-term care insurance. What is long-term care insurance? How does it work? And is it really worth the money? Let’s find out! What Is Long-Term Care Insurance? As you might have guessed, long-term care insurance covers long-term care needs, services, and support—pretty on the nose! What does this type of care look like?…