Just as there are many kinds of long-term care services and supports, so is there a wide range of costs for them. And while some people may qualify for a public program to help pay for these expenses, most people use a variety of options, including long-term care insurance, personal income and savings, life insurance, annuities and reverse mortgages to ensure they can pay for the care they require. As our population ages, new financial products are offering yet more options.
Important questions answered in this section:
- What are the costs of care?
- Does disability or health insurance cover long-term care?
- What is long-term care insurance?
- How can I use life insurance to pay for long-term care?
- What are other ways to pay privately?