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 Glossary Terms
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Individual or other entity who owns an insurance policy. Synonymous with policyowner. ...
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Coverage for less than one year. Insurers generally charge higher rates for short-term policies than for longer term insurance, such as an annual policy, because of the need to recoup ...
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