What is Long-Term Care Insurance?

Long-term care insurance is a type of insurance policy that provides care for people who are unable to perform the basic necessities of daily living (eating, dressing, bathing, etc) without assistance for at least 90 days.

A tax qualified plan has some restrictions:

• It must be guaranteed renewable.
• It can generally have no cash surrender value or build investment equity.
• It can't substantially conflict with benefits already provided by Medicare.