Understanding Long Term Care Insurance (from AARP)
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Understanding Long Term Care Insurance is an article found on the AARP website which explains the types of policies paying benefits to help cover the cost of "long-term care," meaning the help that people with chronic illnesses, disabilities or other conditions need on a daily basis over an extended period of time. The type of help needed can range from assistance with simple activities (such as bathing, dressing and eating) to skilled care that's provided by nurses, therapists or other professionals. The policies differ significantly in such areas as benefit payment limits, conditions that trigger the payment of benefits, and the actual amount of the daily benefit paid.
From the website: "Policies offer many different coverage options. Since you can't predict what your future long-term care needs will be, you may want to buy a policy with flexible options. Depending on the policy options you select, long-term care insurance can help you pay for the care you need, whether you are living at home or in an assisted living facility or nursing home. The insurance might also pay expenses for adult day care, care coordination and other services. Some policies will even help pay costs associated with modifying your home so you can keep living in it safely."
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