Definitions for "Long Term Care Insurance"
Keywords:  nurse, defray, cognitive, care, chronic
insurance that helps defray the costs of assistance with the activities of daily living or the costs of supervision due to a severe cognitive impairment and allows you to receive the type of care you need in the setting that's right for you.
A health-insurance variation designed to cover the costs of long term care at home or in a nursing home. These policies offer a specified nursing home benefit and home-care benefit. Some policies also account for inflation. The popularity of long term care insurance has grown as federal laws have changed, making it less likely that Medicaid will pick up the tab for long term care. These policies are usually rather expensive, and grow even more costly as the policyholder ages
This is a type of policy that provides for a benefit in the event of a prolonged illness or disability. These policies are often structured to defray the cost of residency at a long term care facility; some provide benefits for home care, as well.