Long-term care is a service that provides medical and non-medical care to people who have chronic illnesses and disabilities, as well as people who need assistance with day-to-day living.

According to www.longtermcare.gov, 21 million people required long-term care services and about 70% of people over the age of 65 required this service at some point during their lives.

Medicare does not cover "custodial" care, which is assistance with day-to-day living. Medicare only covers "skilled" care such as dispensing medicine, medical tests and diagnosis, etc. However, assistance with bathing, using the restroom, eating, household chores, etc ... are considered “custodial” care and are not covered by Medicare.

Preparing for the unexpected is a wise choice when it comes to healthcare. Having a long-term care policy could end up saving you hundreds of thousands of dollars.