Long Term Care Authorities
Long Term Care insurance provides crucial financial support when a loved one requires assistance with daily activities. This type of coverage offers a monthly benefit to families caring for someone who cannot perform at least two of the six Activities of Daily Living (ADLs) without help. These activities include dressing, eating, bathing, using the bathroom, managing continence, and walking independently.
When purchasing a Long Term Care insurance policy, you can customize it to suit your needs by selecting the benefit period (the number of years the benefit is paid) and the monthly benefit amount. Policies often include a waiting period, with benefits typically beginning 30 to 90 days after the insured becomes unable to perform two ADLs without assistance.