{"id":355825,"date":"2016-04-04T10:46:14","date_gmt":"2016-04-04T15:46:14","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/healthcare\/patient-rights\/ltc-long-term-care-insurance-risks-and-benefits.html"},"modified":"2025-08-17T19:50:48","modified_gmt":"2025-08-18T00:50:48","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":"LTC (Long Term Care) Insurance: Risks and Benefits"},"content":{"rendered":"\n
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LTC (Long Term Care) Insurance: Risks and Benefits<\/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. However, there are significant risks as well, 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. Careful consideration of personal health status, family support, and financial situation is essential before purchasing LTC insurance, and consulting a health care attorney or financial advisor can help ensure the best decision. If you’re concerned about medical costs causing you to\u00a0running out of cash in your Golden Years,\u00a0consider a\u00a0long-term care insurance policy.<\/i><\/p>\n\n <\/div>\n <\/div>\n<\/div>\n\n\n

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

Long-term care 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. 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