Long-term care insurance protects against possible need for assistance with activities of daily living, such as dressing and bathing, as well as medical issues such as physical therapy and prosthetic devices. Long-term care insurance can also cover assisted living facility bills, emergency home care, and nursing home costs.

There is a wide range of questions and concerns to raise when deciding if long-term care insurance is for you. Most experts will tell you that long-term care insurance is not incredibly useful in protecting your financial future, but it can be a necessary expense when certain situations arise. Before purchasing such a policy, make sure you understand the details and fine print (which you really should do with all insurance policies), and make sure it fits well with your goals and needs.