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Quick Guide To Long-Term Care Insurance

In 2008, the average daily cost of a semiprivate room in a U.S. nursing home was $191, according to the MetLife Mature Market Institute. That’s just shy of $70,000 a year. The average expense of a year’s stay in an assisted-living facility was $36,372. Paying for a home-health aide who visits three times a week ran about $18,000 per annum.

An extended period of care could burn through savings pretty quickly. To protect their assets, an increasing number of people are buying long-term care (LTC) insurance.

Coverage
Most policies cover nursing home care, assisted-living fac...