"Why do I need Long Term Care Insurance? I already have health insurance!"
This is a common response when people are asked if they have considered Long Term Care Insurance (LTCI). What people don't realize is that their health insurance will typically not cover long-term care needs in a nursing home, assisted-living facility, or in one's own home. Another common misperception is that it's just the elderly population that has these needs. Unfortunately, this is not true, as young people also experience accidents as well as chronic and debilitating illnesses, all of which can create a need for long-term care.