~ Simply put, long-term care is assistance with daily activities such as eating, bathing, or getting dressed -- whether the care is provided at home, in an assisted living facility, in nursing home or in the community. ~

Typically, long-term care insurance is purchased by people age 50 and older who have measurable assets to protect and want to make decisions that resolve the issue of long-term illness and family care before it occurs. The costs that go along with long-term care can exhaust your savings and impact your standard of living and your independence. Many people make personal decisions to free up their family from the responsibility and financial commitments that are involved in caring for loved ones in the later stages of life. Plus, those loved ones can stay at home while receiving the best care.

A common misconception about long-term care has been that only seniors need to plan for it. However more young people than ever are incorporating long-term care needs into their financial plans. In fact, one-third of current long-term care insurance policy owners purchased their policies before age 65!

People who plan ahead know that sudden accidents and prolonged illnesses can strike at any age, and too often occur long before retirement. In fact: 40% of people who need long-term care --- a substantial portion --- are working adults between ages 18 and 64!

In addition, long-term care expenses aren't covered by health or disability insurance. A health plan is designed to cover medical care provided by a hospital or doctor, and disability insurance replaces income if you are unable to work. But, neither pays for assistance with basic daily activities over the long term, or for care in your home required by an accident or illness.