Long Term Care Insurance Companies

Written by Tara Peris
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Long-term care insurance companies have evolved over the last several decades to offer increasingly impressive coverage. No longer confined to situations in which Medicaid funds are exhausted, this form of health insurance can now kick in at any time. What this means is that you get the coverage you need, when you need it no matter what.

The extended care insurance industry is a relatively new one, and as such, is subject to a great deal of growth and change. Over the last 25 years, the changes have been mostly favorable, as the industry has attempted to provide increasingly comprehensive coverage for those in need. The result is an impressive array of health care plans, allowing patients maximum flexibility when determining their coverage.

Types of Insurance Plans

The vast majority of people opt for stand-alone insurance plans that stay in place across the lifespan. These policies offer comprehensive coverage based on a premium that is paid as long as the person seeks coverage. Usually, the premium is paid on an annual basis until the covered individual passes or terminates services.

Although this is the most popular coverage option, many people opt for alternative insurance packages. Most often, these packages operate through existing life insurance programs as "riders" that can split a premium to cover multiple costs. There are several ways to adapt a current life insurance plan to provide for long-term care, so speak with your claims adjustor about the full range of health coverage alternatives.

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