Long Term Care Insurance and Long Term Disability Insurance

Long Term Care Insurance is insurance that will cover the cost of long-term care from a disability due to illness, injury or age. This assistance includes care at home or at a nursing home.

The insurance coverage includes payment of room, board and skilled care by nurses and doctors. Long-term care insurance premiums and coverage vary regarding length of waiting period before coverage begins, coverage period and maximum monthly benefit.

Disability insurance coverage is intended to be income replacement insurance. It is typically acquired prior to age 65 and provides benefits of up to 60% of current income if you become disabled due to injury or illness.

As with Long Term Care Insurance policies, premiums and coverage vary including length of waiting period before coverage begins, coverage period and maximum monthly benefit.

Consult your estate planning attorney for further information.

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