Long-term care refers to ongoing assistance with the activities of daily living (ADLs) that a person needs due to a chronic illness, disability, or cognitive impairment. The six standard ADLs used by insurance companies to define this need are: bathing, dressing, eating, toileting, transferring (moving from a bed to a chair, for example), and continence. Most long-term care insurance policies will pay benefits when a person can no longer perform two of these six activities w

As we age, the potential need for long-term care becomes a reality many retirees must consider. Planning ahead can help protect your finances, ensure quality care, and reduce stress for your loved ones. Here’s what you need to know about long-term care and how to prepare for it.