It is more suitable to people 50-55 and older. Long Term Care Insurance provides benefits to pay the cost of health and personal care services for someone who becomes unable to care of himself or herself. To ensure a comfortable future, it makes sense to purchase long-term care insurance at about age 55. The basic coverage provides benefits to pay for health and personal care services for an insured person residing in a long-term care facility.
You can also purchase additional coverage that would pay for home care provided in the comfort of the insured person’s own home. Home care also includes help with everyday tasks such as cooking, cleaning and shopping. Depending on the plan selected, a policy could specify that benefits be paid for one year, two years, five years, or for the insured person’s entire life. The coverage becomes popular in Canada because of baby-boomers.