What is Long-Term Care Insurance?
Long-term care insurance is not limited to only the elderly, although it is most likely you will not require this type of insurance until you are past retirement age, it is much less expensive to purchase when you are younger. It is meant to assist in the costs associated with activities of daily living should there be an accident or illness that hinders your physical or mental capability. LTC insurance can allow you to live in your own home for longer by affording you to obtain help.
What is Critical Illness Insurance?
Critical illness insurance can be purchased as a term or permanent policy, and is paid out upon surviving 30 days past the date of original diagnoses. The illnesses covered differ from policy to policy, so given your family history it is crucial to “shop” for the best coverage for you.