Can assisted Living services be paid for with Long Term Care Insurance?

(Littleton, CO)

Question:

Can assisted Living services be paid for with Long Term Care Insurance?

Answer:

Some LTC policies cover only skilled facilities; many others will pay for an Assisted Living Facilities. Some of those have restrictions on the size and type of facilities that they will pay for. Before purchasing a LTC policy, check the policy carefully if you intend to use the benefits for assisted living costs. The limited policies may only cover a portion of your long-term care. Premiums depend on age at the time of policy purchase and may
also depend on health.