{"id":355825,"date":"2016-04-04T10:46:14","date_gmt":"2016-04-04T15:46:14","guid":{"rendered":"https:\/\/ability-fl-prod.internetbrands.com\/ability-law\/healthcare\/patient-rights\/ltc-long-term-care-insurance-risks-and-benefits.html"},"modified":"2026-08-17T19:50:00","modified_gmt":"2026-08-18T00:50:00","slug":"ltc-long-term-care-insurance-risks-and-benefits","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/healthcare\/patient-rights\/ltc-long-term-care-insurance-risks-and-benefits.html","title":{"rendered":"Should I Buy LTC (Long-Term Care) Insurance?"},"content":{"rendered":"\n
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Should I Buy LTC (Long-Term Care) Insurance?<\/h1>\n\n
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\n By Susan Buckner, J.D.<\/a> | Legally reviewed by Jordan Walker, J.D.<\/a>\n | Last updated\n
\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n\n\n

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Key Takeaways<\/h2>\n

Long-term care (LTC) insurance offers benefits and risks for individuals considering their future medical care plan needs. The primary benefit of LTC insurance is financial protection because it helps cover the high costs of long-term health care in nursing homes, assisted living facilities, or at home. LTC insurance policies can offer flexibility in choosing care options and may prevent the need to rely solely on family members or government programs like Medicaid, which can limit facility choices.<\/p>\n\n <\/div>\n <\/div>\n<\/div>\n\n\n

But long-term care insurance can also carry significant risks, including high premium costs, limited availability of policies, and the possibility of being denied coverage due to age or preexisting health conditions. Not everyone will need long-term care, and some may find alternative options more suitable.<\/p>\n

Careful consideration of personal health status, family support, and financial situation is essential before purchasing LTC insurance. Understanding its risks and benefits will help you make an informed decision. Keep reading to learn more.<\/p>\n

Some families benefit from consulting an attorney or financial advisor before purchasing an LTC insurance policy. An experienced attorney near you<\/a> can assess whether an LTC policy and\/or other estate planning tools can protect your finances and assets in your Golden Years.<\/p>\n

What Is Long-Term Care?<\/strong><\/h2>\n

Long-term care<\/a> includes nursing homes, assisted living facilities, and memory care centers. Long-term care facilities provide support for older residents needing assistance with one or more “activities of daily living,” or ADLs.<\/p>\n

As people age, daily routines become more difficult. Recently widowed individuals living alone for the first time in decades\u00a0may need help working through\u00a0grief and related mental health<\/a>\u00a0issues.<\/p>\n

Long-term care facilities provide assistance, in varying degrees, in the six essential ADLs:<\/p>\n