LTC (LONG-TERM CARE)
Long-term care insurance is an insurance policy purchased in advance to help pay for future care at home or in senior living settings. Policies vary, but typically seniors can become eligible for benefits once they’re no longer able to perform two activities of daily living (ADLs) independently.
Long-term care insurance may cover the following care types, depending on the plan purchased:
Adult day care
Home care
Home health care provided by a medical professional
Respite care
Hospice care