A long-term care insurance policy helps cover the costs of that care when you have a chronic medical condition, a disability or a disorder such as Alzheimer’s disease. Most policies will reimburse you for care given in a variety of places, such as: your home, nursing home, assisted living facility or adult day care center.

The thought of formulating a long-term care plan might seem daunting, but it doesn’t have to be. A long-term care plan should not be developed in a vacuum. Anyone who might be involved in any aspect of caregiving; emotionally, physically of financially should be included in the process.