Long Term Care Insurance

Long-term care insurance policies cover the cost of long-term care services when and if you need them, allowing you to keep your personal savings.  Long-term care includes short or long-term nursing home stays, skilled or non-skilled nursing care, physical therapy, home making, and the services of home health aides provided by state licensed and/or Medicare certified home health agencies. 

Purchasing long-term care insurance eases the burden on your spouse or adult children when you are unable to care for yourself. The time to shop for long-term care insurance is before you need it. 

As with other types of insurance, long-term care insurance rates vary according to the coverage and factors such as health, medical history and age when issued. All policies have limitations, it is important to carefully research a policy prior to signing.  Contact several companies, compare coverage and research the companies' histories. Agents and companies selling insurance products to Minnesota residents must be licensed in Minnesota.

Depending on your financial situation, it may be beneficial to consult with a financial advisor, accountant or attorney to assist you in making the right choice.