Does Long Term Care Insurance Cover Assisted Living Costs?

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One response to “Does Long Term Care Insurance Cover Assisted Living Costs?”

1. 

   May 20, 2013

   Jerry Vanderzanden, CLU, ChFC

   Long term care insurance can cover costs associated with assisted living facilities as well as care provided in the home or in a nursing home. It depends on what the policy covers. Most policies available for sale today are reimbursement but a few are indemnity. Long term care insurance policies that provide indemnity benefits pay a specified amount for each day of covered services regardless of the actual costs incurred by the insured. Long term care insurance policies that provide reimbursement benefits reimburse the insured for costs he or she incurs for covered services up to a daily, weekly or monthly maximum stated by the policy.