What does Long-Term Care Insurance (LTC) primarily cover?

Long-Term Care Insurance (LTC) is designed to cover a range of services needed when individuals become unable to perform basic daily activities independently, such as bathing, dressing, or eating. This type of insurance primarily addresses the costs associated with nursing home care, assisted living facilities, or in-home personal care services. The intent of LTC insurance is to alleviate the financial burden of long-term care, which is typically not covered by standard health insurance or Medicare.

In contrast, home repairs and maintenance, medical expenses for surgeries, and vehicle coverage for accidents fall outside the scope of LTC insurance. These areas are governed by other forms of insurance or personal financial management strategies that do not relate to the long-term care services that LTC aims to provide. Understanding this distinction is crucial for effective financial planning and ensuring that clients are appropriately covered for their future care needs.