Long-term care insurance (LTCI) helps meet the costs of medical care above a certain age. This insurance covers care that is not generally covered by other health insurance, Medicaid, or Medicare.

Some people may be unable to perform some activities of daily living (ADLs), due to old age, injury, physical or mental illness. Then they are said to need “long-term care (LTC)”. This care can be given at home, a day care center, or at an assisted living facility. Most people above the age of 60 will need some form of care (LTC).

Getting LTCI can offer peace of mind. This is because LTC costs are rising day by day with rising inflation. But once the premium for the insurance is specified, it generally stays at that level for the life of the policy, but there may be some exceptions.

You can get LTCI even if you are getting cared for free – by a spouse or a relative. It is generally recommended to get LTCI before you reach 60 years of age. If you are younger than 60 when applying for the insurance, the chances of rejection are low. Also, the premium for LTCI will be lower for a specific bundle of benefits.

It is advisable for you to take a shared LTCI policy with your spouse. The benefits of Shared Long Term Care Policies can be very advantageous.

Dave Ramsey, a popular radio show host, recommends long-term care insurance. Get free quotes for LTCI after reading Dave Ramsey’s advice on Long Term Care Insurance.