Healthy adults have a hard time imagining themselves unable to take a bath or prepare a meal on their own. While some people never need assistance to perform basic activities of daily living (ADL), there are many who find themselves in need of regular care due to injury or sickness. Most long term insurance policies are designed for adults who are preparing for the possible consequence of old age, but they can also offer benefits to younger people who suffer from debilitating conditions.
The exact expenses covered by a long term insurance policy depends on the provider and the contract. Most policies cover the costs associated with hands-on care on a daily basis. This includes prolonged stays in a nursing home or similar facility, as well as a visiting nurse or assistant who provides care services at the person’s residence. People who are unable to perform at least two ADLs on their own usually qualify as long term care patients.
Long term care insurance is not typically found among workplace benefits offered by employers, although a few present it as a voluntary option for their workers. This means that a large number of adults must invest in care insurance out of their own pocket or forego coverage altogether. Unfortunately, this can have severe financial consequences for those who find themselves in need of regular care for a prolonged period of time.
Every adult should consider obtaining a long term care insurance policy for themselves through their workplace or independently through a provider. Policy holders can reduce their overall costs by getting a policy earlier in life when they are healthier, and as an extra layer of protection against sudden illness or disease during their working years. Covering long term care needs through insurance provides relief not only to the holder, but also to family members who would have to dedicate a significant amount of time providing care for aging relatives.