ECONOMICS

Detailed explanation-1: -Long-term care (LTC) insurance is coverage that provides nursing-home care, home-health care, and personal or adult daycare for individuals age 65 or older or with a chronic or disabling condition that needs constant supervision.

Detailed explanation-2: -What is the best candidate for LTC insurance? Individuals in good health, in their mid-50s or older, with assets to protect.

Detailed explanation-3: -What is an LTC rider? A long-term care life insurance rider is a policy addition that slightly changes how your life insurance works, allowing you to use part or all of the policy’s death benefit for long-term care while you’re alive.

Detailed explanation-4: -Comprehensive Long-Term Care Insurance Policy means an individual contract of insurance that will be issued to each Insured. Such policy provides reimbursement for services that are required by people who are functionally or cognitively disabled due to sickness, injury, illness or aging.