Long-term care (LTC) insurance covers the cost of personal support for people who need assistance with activities of daily living (ADLs), such as bathing, dressing, and eating. This care may be given in a senior living home, assisted living facility, daily care program, or even at home. You may need this care because of a chronic condition or because of an injury or other non-permanent condition.

Having LTC insurance may be valuable because it covers many expenses that health insurance, doesn’t typically cover.