Long-term care (LTC) insurance is coverage that provides nursing-home care, home-health care, and personal or adult daycare for individuals age 65 or older or with a chronic or disabling condition that needs constant supervision. LTC insurance offers more flexibility and options than many public assistance programs, such as Medicaid.
1 in 8 Americans over 65 has Alzheimer’s disease. It’s the only cause of death in the top 10 in America that cannot be prevented, cured, or slowed. Almost two thirds of Americans with Alzheimer’s disease are women. 1 in 3 seniors dies with Alzheimer’s or another dementia. Alzheimer’s disease is the 6th leading cause of death in the United States. In 2015, Alzheimer’s and dementia will cost the nation $226 billion.
In United States it cost about $3,500 a month for a one-bedroom assisted living apartment in 2014. On average in America it cost $42,000 per year. Assisted living costs vary, depending on the following factors:
A long-term care insurance policy helps cover the costs of that care when you have a chronic medical condition, a disability or a disorder such as Alzheimer’s disease. Most policies will reimburse you for care given in a variety of places, such as: Your home.