Chances are you will need some help taking care of yourself later in life. How will you pay for it?

Long-term care insurance is one way to prepare as it covers services that are not covered by a typical health insurance plan.

Long-term care insurance is basically nursing home or assisted living insurance. It pays for the long-term care (LTC) services some folks will need as they age or become ill and need help with daily tasks.

LTC insurance also helps cover the costs of care when you have a chronic medical condition, a disability or a disorder such as Alzheimer’s disease.