What is Long-Term Health Insurance?

Long-term health insurance is often used for those who have cognitive impairments, debilitating accidents, and other long-lasting medical conditions. You may wish to purchase long-term health care if it is important to have skilled or non-skilled care over a long period of time.

Health insurance can be designed to fit your personal needs. An insurance agent can give you an insurance quote for the insurance services you desire. Many insurance companies have additional features, such as daily or monthly benefits, that can be added for an additional charge.

Your long-term health insurance policy comes with an elimination period. During the elimination period you cannot receive benefits from the insurance coverage. If you need a policy at a lower cost, you may wish to choose a larger elimination period. Common elimination periods include 30, 60, 90, and 180 days.

If you expect to need the policy for an extended time, make sure you know the insurance company’s stance on inflation rates. Some policies are designed to take inflation into consideration, so your policy will fit the economy. Your long-term care insurance should make sure to account for many variables, such as the length of treatment, daily or monthly benefits, and inflation rates.

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