Q. What is long-term care and should I buy long-term care insurance?

Long-term care is the kind of help you need if you are unable to care for yourself because of a prolonged illness or disability. It can range from help with daily activities at home, such as bathing and dressing, to skilled nursing care in a nursing home.

Not everyone should buy a long-term care insurance policy. For some, a long-term care policy is an affordable and attractive form of insurance. For others, the cost is too great and the benefits they can afford are insufficient. Buying a long-term care policy should not cause financial hardship and make you forego other more pressing financial needs. Each person should carefully examine his or her needs and resources to decide whether long-term care insurance is appropriate. It is also a good idea to discuss such a purchase with your family.

Q. Does Medicare cover long-term care services?

Medicare provides only limited coverage for long-term care that helps a person to recuperate from a sickness or injury. Medicare pays only for medically necessary skilled nursing care services. You should not rely on Medicare to pay for long-term care needs.

Q. Can the insurance company cancel my long-term care insurance policy?

No, your policy is guaranteed renewable for life. The policy may terminate only when you cease paying your insurance premiums or if you use the maximum amount of benefits available under the policy.

Q. How do I qualify for long-term care insurance?

Companies selling long-term care insurance underwrite their coverage. That means they look at your current health status and health history and issue a policy only if you meet the guidelines established by the company. Some companies ask only a few questions about your health. Others may ask for more detail, examine your current medical records or ask for a health statement from your doctor.

Answer all questions as truthfully and thoroughly as possible. If a company later learns you did not fully disclose your health status on the application, it could refuse to pay your claim or cancel your policy.

Q. Are preexisting conditions covered under long-term care insurance policies?

Preexisting conditions must be covered by long-term care insurance policies. However, insurance companies may have a preexisting condition waiting period of up to six months. After your policy is in effect for six months, it will pay for covered benefits.

Q. Are Alzheimer's and other dementias covered by long-term care insurance?

Alzheimer's disease and other dementias are required to be covered by long-term care policies. However, if you have Alzheimer's or other dementia at the time you apply for coverage, the insurance company is not required to accept your application or to issue coverage.

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