Financial Glossary what is long-term-care-insurance


Long Term Care Insurance

The planning, by way of suitable insurance, for covering partially or in full, the cost of long term care in old age. The place of care may be the insured's own residence or a nursing home. In order to claim benefit, the insured must be disabled to the extent that he/she is unable to perform say three daily activities such as washing, dressing and eating/drinking.

Long-term Care Insurance

The planning, by way of suitable insurance, for covering partially or in full, the cost of long-term care in old age. The place of care may be the insureds own residence or a nursing home. In order to claim benefit, the insured must be disabled to the extent that he/she is unable to perform daily activities such as washing, dressing and eating/drinking.
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