what is long term healthcare insurance

AffiliatePal is reader-supported. When you buy through links on our site, we may earn an affiliate commission.


Long-term healthcare insurance is a type of insurance that covers the costs of long-term care services, such as nursing home care, assisted living, or in-home care. Long-term care is a range of services and support that help people with chronic illnesses, disabilities, or other conditions that require ongoing medical support and assistance with activities of daily living.

Long-term healthcare insurance is designed to help cover the costs of long-term care services that are not typically covered by traditional health insurance or Medicare, such as nursing home care or in-home care. The insurance may cover all or part of the costs of these services, depending on the policy.

Long-term healthcare insurance policies typically have eligibility requirements, such as age or health status, and may require you to undergo a medical exam before you can enroll. Policies may also have exclusions and limitations on the types of care that are covered.

It’s important to carefully review the terms and conditions of a long-term healthcare insurance policy before purchasing it to ensure that it meets your needs and budget. Long-term healthcare insurance can be an important financial tool to help you plan for the potential costs of long-term care, but it’s not for everyone. It’s a good idea to consider your financial resources, health status, and family history when deciding if long-term healthcare insurance is right for you.