Long-term care insurance covers care what is necessary for a person to live independently and still maintain quality of life. This care involves activities of daily living, or ADLs, such as bathing, dressing, preparing meals, walking and other daily activities. Long-term care insurance can provide coverage that keeps elderly or frail adults in their homes.
Recent consideration of the CLASS Act legislation, which would have permitted workers to buy long-term care (LTC) insurance regardless of their health, put LTC insurance into the minds of many Americans. Often, people are reluctant to purchase LTC insurance because of the cost of coverage and their fears that their claims will be denied, in addition to uncertainty as to whether they will actually need the benefits in the future.
Insurance companies are taking advantage of the fact that people in your position — children and other relatives of adults in need of long-term care — are often pressed for time. Between working, raising children of your own and caring for an adult loved one, you simply do not have time to look through all of the small print in a long-term care insurance policy.