Long-term care insurance policies provide coverage for custodial care of Alzheimer’s patients, which typically begins when a physician provides evidence of cognitive impairment or if the patient needs help with at least two daily-living activities. In light of the fact that most Alzheimer patients receive care at home, it is important to carefully examine a policy’s home-care requirements. Some policies commence a 60-day waiting period for benefits, which begins on the day the doctor certifies the cognitive impairment. Other policies count only waiting-period days that the patient receives care from a qualified caregiver. Meanwhile, the caregiver must be paid out of the family’s own pockets. It also pays to check what type of caregiver the policy will cover.
NOTE: One in eight people aged 65 years and older suffers from Alzheimer’s disease.