It can make the difference of where you go and where you stay. Some policies pay these benefits for two, four or six years. Others last for the duration of a senior's life. It's important to realize that long-term care insurance is not for everybody. For one thing, not everyone qualifies.
Insurers deny coverage to folks with serious health problems.
Some of these things are painful to talk about, but it's essential. Once you accept that it could happen to you, you're halfway home. Plus, this insurance coverage is not cheap. Some folks can't afford it. Medicaid pays for 47 percent of nursing home care, but only after families have spent down other assets and resources.