What is long-term care insurance?

Long-term care insurance is long-term care insurance, which refers to the expenses incurred when an individual cannot take care of himself due to illness, old age or disability, and needs to be treated at home or in a nursing home, accompanied by specialized nursing staff. Long-term care insurance is called the "sixth insurance" of social security, and it is a kind of health insurance, mainly taking personal health as the subject matter.

Long-term care insurance mainly covers the daily care expenses of the elderly or caused by illness or disability. Generally divided into home care and institutional care. The difference between medical insurance and medical insurance is that medical insurance mainly guarantees the expenses needed for medical treatment, while long-term care insurance is mainly used to guarantee the expenses paid for general life care, generally excluding medical intervention.

About 20 years ago, the United States began long-term care insurance. Long-term care insurance has been developing very well in Germany and France. In the United States, long-term care insurance has increasingly become the most popular insurance for families, accounting for 30% of the American life insurance market.

Standard of payment terms:

1, daily activities failed. Including: getting up and sleeping, or living activities, dressing and undressing.

2. Medical necessity and hospitalization. Insurance companies require the insured to live in nursing homes as much as in hospitals.

3. Cognitive impairment. Usually, if the insured is diagnosed with some cognitive impairment, it is considered that long-term care is needed.