No. The insurance for long-term care provides benefits for long-term personal care when you need supervision or assistance with your activities of daily living due to a chronic, disabling condition or cognitive impairment.
Insurance policies for long-term care generally provide reimbursement, at a maximum fixed costs incurred for various types of care, such as nursing homes or home care, or they pay compensation daily or monthly predetermined amount.
Disability insurance is the same thing as insurance against serious diseases?
No. Disability insurance, often called disability insurance, pays a monthly allowance of replacement income if you become disabled and can no longer perform the normal duties of your job. In general, the benefit is a percentage of your regular income and ceases once you earn an income or that you no longer meet the definition of disability in the contract.
Unlike insurance against serious diseases, which pays full benefits as a lump sum once they are diagnosed with a serious illness, disability insurance long term may include waiting period after the onset of disability. Unlike critical illness benefits, the amount of disability benefits may depend on other sources of income you or your full recovery from the disease.
