While long term disabilityinsurance and long term care are both similar regarding the purpose they serve,
both are in fact completely different from one another. Both protect your
financial stability in cases when you’re unable to keep providing for yourself,
but in a totally different way.
Long term care can be initiated
at any time you’d be unable to keep taking care of yourself or you need care
for any aspect of your life, while disability insurance covers your financial
expenses if you’re unable to keep earning as previously due to a disability.
For instance, disability
insurance replaces a portion of your income caused by a disability that stops
you from doing your job. Disability
insurance will provide you cash and you can choose how to spend the funds. This
could be used for your mortgage, utilities, gas, or groceries. It is your
discretion how you would like to use the benefits from disability insurance.
On the other hand, long term care
insurance pays for a portion or all of the costs of care giving you might need
due to any physical or cognitive disability. Long term care insurance
reimburses any costs for care received in assisted living homes, skilled
nursing facilities or at your own home. There are certain limitations regarding
how much coverage you’re eligible to receive, when, and
from where.
Visit here for more detail about Long Term Disability Insurance Quote
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