As people live increasingly longer lives, the drain on financial resources that results from having to cover long-term medical care in older age is increasing. Long term care insurance helps to reduce this strain and give patients more coverage protection. This type of insurance is usually taken out by elderly patients who are facing a health condition resulting from the natural aging process or by younger patients who are preparing for their older years. Unlike regular health insurance, which covers only medical expenses, long term care insurance also covers “custodial care,” which can entail providing assistance with activities of daily living or supervising a cognitively impaired person.

Long-term care insurance premiums, which may increase a person’s initial insurance costs, are small in comparison to the costs of custodial care for an elderly individual over an extended period of time. Provided by insurance companies in addition to standard health insurance, long term care insurance is designed to be flexible, to meet the individual’s needs, and to help cover costs associated with home care, whether provided by family and friends, by professional home care organizations, or by adult day care centers, assisted living facilities, or nursing homes.

To find out more about the services, benefits, and costs of these types of insurance plans, visit these Web sites:

-- AARP            www.aarp.com

-- Long Term Care Insurance               www.findltcins.com

-- Mr. LTC                                  www.mrltc.com

-- Insurance Information Institute         www.iii.org/individuals/longtermcare/