What Is A Long Term Care Insurance Plan? 
A Long Term Care Insurance plan is an insurance policy that pays the benefit when the insured person is unable to care for themselves for an extended period of time . It can provide funds to a nursing home or other care facility , or it can pay the benefit directly to the insured person to spend on their own care as they see fit . To qualify to receive a benefit from a long term care insurance plan , the insured person must need assistance to perform at least a couple activities of daily living , such as bathing , dressing , or eating . Sometimes a mental impairment can trigger the benefit to start being paid . Policies have elimination periods , and you must wait until those days are up before beginning to receive payments for your care . 