+5 votes
I'm wondering if long term care insurance covers the cost of assisted living facilities. Can anyone provide some information on this? Thanks!
by (440 points)

1 Answer

+24 votes
Best answer
Long term care insurance can provide coverage for assisted living facilities, but it depends on the specific policy and its terms and conditions. Some long term care insurance policies include coverage for assisted living, while others may not. It's important to carefully review the policy details and speak with the insurance provider to understand what is covered and what is not. Assisted living refers to a type of housing arrangement for individuals who need assistance with activities of daily living, such as bathing, dressing, and medication management. It is different from nursing home care, as assisted living facilities provide a more independent living environment. Long term care insurance is designed to help cover the costs of long term care services, which can include assisted living, nursing home care, and in-home care. However, the coverage and benefits can vary widely between policies. Some policies may have specific requirements for coverage, such as a waiting period or a certain level of care needed. It's important to carefully review the policy documents and ask any questions to ensure you understand the coverage provided by your long term care insurance policy. If you are considering purchasing long term care insurance, it's recommended to compare different policies, understand the coverage options, and consider your specific needs and budget. Consulting with a financial advisor or insurance specialist can also be helpful in making an informed decision. Please note that this information is based on general knowledge and may vary depending on the specific insurance policy and provider. It's always best to consult with the insurance provider directly for accurate and up-to-date information on coverage for assisted living facilities.
by (420 points)
selected by