What Long-Term Care Insurance Policyholders Need to Know

Long-term care insurance can be confusing at times, so here are some insights about premium increases, when you can use your benefits and other issues.

A smiling young woman kneels beside a smiling older woman and holds her hands at a health care facility.
(Image credit: Getty Images)

About 7.5 million Americans have some form of long-term care insurance (LTCI), which is a policy that helps cover the daily living costs associated with health diagnoses not covered by standard health insurance. This coverage is crucial to people who experience a health crisis that dramatically affects their way of living, such as Alzheimer’s or mobility issues.

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Thomas C. West, CLU®, ChFC®, AIF®
Senior Partner, Signature Estate & Investment Advisors

Financial adviser Tom West, CLU®, ChFC®, AIF®, founded Lifecare Affordability Plan (LCAP) to address a critical need for actionable planning that integrates finances, healthcare and senior housing. Tom has nearly 30 years of experience guiding families through financial and healthcare decisions. By bridging the gap between finance and healthcare, LCAP’s experienced team works with individuals and financial advisers to provide families with a financial strategy that meets changing healthcare needs while preserving the caregiver’s quality of life.