Why Do People Buy Long Term Care Insurance? 
People buy long term care insurance to protect their assets in case they should need to pay for expensive care for themselves for an extended period of time -LRB- months to years -RRB- . When someone receives long term care , they must pay out of pocket , because Medicare does not pay it -LRB- beyond , possibly , under one month at that start , followed by 80 days of partial payment , but only if qualified -RRB- . When their liquid assets run out , they must tap into other assets , even the value of their home , if no remaining spouse lives there . When assets are nearly depleted , they can receive Medicaid funding , but not before that . Having Long Term Care insurance helps avoid that scenario , as the policy will pay for the care until policy funds run out . If a Partnership plan , assets are protected up to the amount of coverage purchased . There are other reasons buy Long Term Care Insurance , as well . One of the main ones is being able to provide for their own care of their choice , and not burdening loved ones with that worry . 