This really depends on the type of policy you choose but one of the primary reasons to own a long-term care policy is to maintain control of how you are cared for. Long-Term Care insurance will pay for your stay in a nursing facility, but the fact is only 3% of policies end up paying for a nursing home. The real goal is to stay in your home, to bring the care to you. Have a caregiver get you out of bed and make you breakfast. You can pay to have someone to help you bathe, use the restroom and dress. The types of things most don’t want their children or spouse to have to do. You can even pay for someone to shovel your snow, do your laundry, or vacuum. These policies are built for you to design the type of care you want where you want it.
Some policies are set to reimburse you for expenses you incur due to a long-term care event. There may be restrictions around what they will pay for. Other policies offer an indemnity style payout. Once you qualify to receive benefits indemnity style policies will begin sending you checks to spend on your care however you wish. Give us a call to find out which policy works out best for you.