What Is Long Term Care Insurance?
Definition of "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
Total premiums written by a ceding company minus premiums ceded to its reinsurer. ...
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Annuity that guarantees that a specific sum of money will be paid in the future, usually as monthly income, to an annuitant. For example, a $1000-a-month income benefit will be paid as long ...
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Right of a policyholder, in life insurance with cash values, to continue full coverage for a limited period, as shown in a table in the policy, with no further premiums payable. ...
Trust that is established by people still alive. ...
Addition to a homeowners insurance policy, or other personal or business property policies, to provide extra coverage for listed articles. The standard policy has dollar limits on certain ...
coverage for contingent liability exposure. ...
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