When people suffering from a chronic illness need assistance over an extended period, their condition is referred to as long-term care. The type of help needed on a daily basis can range from bathing and dressing to eating and exercising.
What is Long Term Care Insurance?
It is an insurance product provided in the United Kingdom, Canada and the United States. It helps cover the cost of those who need prolonged medical care and fills the gap for coverage not provided by Medicaid, Medicare or health insurance.
Who Benefits from Long Term Insurance?
There may be some pre-existing medical conditions that make it difficult to qualify. However, the many that do qualify can count on receiving care that covers crutches, oxygen, multi-prolonged cane use, wheelchair, walker, bathing, dressing, feeding, toileting, transfer between bed and chair, and assistance with grocery shopping and transportation.
How Does Care Insurance Work?
The insurance policy is acquired when applicants meet established health guidelines. The best time to apply is at a young age when healthy and strong. Policies vary and coverage starts only when certain conditions are met. For instance, the policyholder may qualify when unable to perform several activities of daily living without assistance for a 90-day period.
Different Types of Coverage
A majority of people may not know about or understand the options that the insurance provides. A patient may qualify for home care where family members, friends, volunteers or professionals can help. Community services may also be available and offer services that include day care, meals, transportation and other needed services.
There are definite benefits to receiving long-term care for people that can help them maintain their health and a degree of dignity for as long as possible. Long-term care benefits can help fill gaps not provided by other insurances.
A person can apply for insurance as long as they meet the requirements of medical underwriting. They younger you are when applying, the lower your premiums will be.