Long-term care insurance is meant to pay for long-term care that would not be covered by regular health insurance, Medicaid or Medicare. The costs of such services can be difficult to manage without a plan in place ahead of time. This means that while you might not know a lot about long-term care now, it may be quite desirable in the future.

Long-term care does not necessarily refer to care for an illness. For example, you might need long-term care if you are no longer able to complete tasks typical of your daily routine. These tasks include bathing, cooking and doing household chores.

Essentially, long-term care encompasses everything from assisted living and adult daycare to respite care and hospice. It may also cover home care, like a housekeeper, live-in caregiver or private nurse. The full scope of insurance will depend on your specific contract.

Long-term care insurance is determined by a number of factors, including your current age and the maximum price and amount of time that the policy is expected to pay out. The price will also depend on any additional benefits you choose to incorporate into your plan.

Selecting the right long-term insurance plan depends on a number of factors, including finding a company that you trust. Look for a reputation and reviews indicating that you have found a trustworthy company.

Long-term care insurance should be a consideration for you now, even if you are not sick or incapacitated at all. Many health changes occur quickly, and by that time, there may not be an option for long-term insurance. Some of the most common illnesses leading to long-term care, like Alzheimer's, set in earlier than some people expect.