Long-term care (LTC) insurance provides benefits to help millions of Americans and their families manage the potentially significant costs of LTC. LTC insurance pays for skilled care provided by professionals such as therapists and also personal care provided by trained health aides. Most policies cover care in the person’s home, an assisted living facility, or a nursing home. LTC coverage helps protect financial assets so that individuals and families can have the financial resources to pay for the care they may need. This takes the potential burden of care off families and provides peace of mind that individuals will be able to afford the type of care they may need and choose. LTC insurance costs only a fraction of what it would cost consumers if they had to pay for care completely on their own.