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Long-term insurance care insurance coverage can help pay for home health care, nursing home costs, adult day care and other qualifying services. Benefits are paid tax-free after qualifying conditions are met.1 If you never need long-term care, your beneficiaries will receive your death benefit, tax-free.

What does long term care insurance cover?

Long term care insurance can help pay for:

  • Home health care
  • Nursing home costs
  • Assisted living facilities
  • Adult daycare
  • Home modifications (such as outdoor ramps or grab bars for bathrooms)
  • Care coordination

Do I need long term care insurance?

Most people over 65 have a chance of needing some type of long-term care support in their life.2 And contrary to what many people believe, health insurance won’t cover the cost of long-term care. Neither will Medicaid if you have more than $2,000 in assets.3 Medicare will cover some long-term care costs, but only up to 100 days. And only following a three-consecutive-day stay in a hospital, while undergoing treatment.

If you’re interested in long-term care, you may want to consider life insurance policies that let you purchase a long-term care rider at an additional cost.

How much does long term care insurance cost?

Talk to a Nationwide agent about long term care insurance costs and whether it makes sense for you to get long-term care coverage with your life insurance policy.

[1] You must meet certain qualifying conditions and a waiting period before benefits will be paid.

[2] Most older adults are likely to need and use long-term services and supports, ASPE Issue Brief, January 2021.

[3] Countable assets according to Medicaid regulations; varies by state.

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Product, coverage, discounts, insurance terms, definitions, and other descriptions are intended for informational purposes only and do not in any way replace or modify the definitions and information contained in your individual insurance contracts, policies, and/or declaration pages from Nationwide-affiliated underwriting companies, which are controlling. Such products, coverages, terms, and discounts may vary by state and exclusions may apply.

The information included here is designed for informational purposes only. It is not legal, tax, financial or any other sort of advice, nor is it a substitute for such advice. The information may not apply to your specific situation. We have tried to make sure the information is accurate, but it could be outdated or even inaccurate in parts. It is the reader’s responsibility to comply with any applicable local, state or federal regulations. Nationwide Mutual Insurance Company, its affiliates and their employees make no warranties about the information nor guarantee of results, and they assume no liability in connection with the information provided. Nationwide and the Nationwide N and Eagle are service marks of Nationwide Mutual Insurance Company. © 2024 Nationwide


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