What Is Long Term Care Insurance?
Long-term care refers to a broad range of medical and personal care services designed to assist individuals who have lost their ability to perform activities of daily living without assistance. In such cases, long-term care insurance provides coverage for both medical and non-medical services provided in a patient's home, a nursing home, or an assisted living facility. Unlike Medicare or most private health insurance plans, which pay primarily for hospital stays or doctor visits, long-term care helps pay for the cost involved in providing assistance with activities of daily living.
Popular Insurance Questions
Popular Insurance Glossary Terms
One of the major underwriting organizations for insurance company pools insuring commercial aircraft liability exposure. ...
Process in life insurance by which an applicant who is uninsurable, or is a greater than average risk, seeks to obtain a policy from a company at a standard premium rate. Life insurance ...
Insurance against interruption of supply of goods and services. If firm A depends on firm B for its supply of goods and services, an interruption caused by damage or destruction to B can ...
Security sold by the issuer of the security directly to the purchasing financial institution without the inclusion of the investment banker in this process. Insurance companies are frequent ...
Very junior issues of debt, according to explicit statements in the indenture, which rank after other unsecured debt. ...
Rate of increase in asset value. ...
Frequency of illness, sickness, and diseases contracted. ...
Rating system under which a specific premium rate, rather than a manual or class rate, is assigned to each unit of exposure. ...
Same as term Burglary Insurance: coverage against loss as the result of a burglary. Found as part of the commercial package policy that has generally replaced the special multiperil ...
Have a question or comment?
We're here to help.