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A long-term care rider is an insurance policy rider that provides benefits for long-term care services. Long-term care riders can be added to life insurance policies, health insurance policies, and disability insurance policies. Riders typically have to be purchased when the policy is first written and can be expensive.
A long-term care rider can provide benefits for a variety of services, including in-home care, nursing home care, assisted living, and hospice care. Riders typically have a daily benefit amount and a maximum benefit amount. Some riders also have an inflation protection feature that increases the benefit amount over time.
Purchasing a long-term care rider is one way to help prepare for the costs of long-term care services. Other ways to prepare for long-term care costs include saving money, investing in long-term care insurance, and Medicaid planning.
A long-term care rider can provide benefits for a variety of services, including in-home care, nursing home care, assisted living, and hospice care. Riders typically have a daily benefit amount and a maximum benefit amount. Some riders also have an inflation protection feature that increases the benefit amount over time.
Purchasing a long-term care rider is one way to help prepare for the costs of long-term care services. Other ways to prepare for long-term care costs include saving money, investing in long-term care insurance, and Medicaid planning.
