Long-Term Health Insurance usually means coverage for the elderly in their time of retirement. An elderly person who has a sudden accident or illness may require a lot of health care and as such needs to be fully covered by long-term health insurance in order for this care to be provided. Without the aid of long-term health insurance to pay for this care, the family of the patient may have to suffer financial hardship to provide the means for this care to be carried out. Long-term care is expensive; it aims to make an elderly person as comfortable as possible rather than trying to cure their illness, which may not be curable. The point of it is to provide good care and comfort during the patient's time of need. Elderly people at the onset of conditions such as Alzheimer's or Parkinson's disease may not be eligible for long-term health insurance.
This type of insurance is a form of security for many people. The policy can cover nursing home stays, home health care and community-based services. People usually buy policies from private insurance companies but many employers are now offering policies like this to benefit their staff and retirees. The eligibility for this insurance depends on age, health and finances of the insured.
More Glossary Terms Explained here
