Long-Term Care insurance helps you afford skilled nursing care or assistance when you are no longer able to perform activities of daily living, such as bathing, eating, and dressing. In addition, long term care insurance kicks in when one is diagnosed with illness that triggers cognitive impairment which is not cure oriented but which requires significant care-oriented conditions.

Many people assume that Medicare or that their own resources would cover the cost of illness at old age. While some of these resources will cover the cost of treatment, many people underestimate the additional - but enormous - cost of the skilled nursing care that is needed when one is stricken ill. A recent Harvard University study showed that 69% of single people and 34% of married couples would exhaust their assets after 13 weeks in a nursing home. A study by the U.S. Department of Health and Human Services says that people who reach age 65 will likely have a 40 percent chance of entering a nursing home. With the national average cost for nursing homes at approximately $105.00 per day, these costs rack up fast and can eradicate your lifetime savings quickly.

Medicare has eligibility requirements and covers skilled nursing care for a limited time period only. Many health insurance and medical supplements do not cover nursing care. In general, health care plans and Medicare combined cover only 3% of the costs of long term care.

With long term care insurance you can have the ability to determine and afford the right care that you need - skilled nursing care or rehabilitation training - in a nursing facility or at your home, at any age.