Long-term care is the assistance you will need for an extended period of time if you develop a chronic illness, disability, or cognitive impairment, such as Alzheimer’s disease.  Long-term care differs from medical care received in a hospital or provided by a doctor, which usually is covered by private health insurance or Medicare. 

Long-term care can be very expensive.  Depending on the type of care one may need, one year of care in a nursing home may cost, on average, over $40,000.  Home care is less expensive but still very costly.

To reduce this potential financial exposure, long-term care insurance is an inexpensive way to provide financial protection to your family.