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UnitedHealthcare answeredLong-term care insurance pays a fixed amount for each qualified day that you receive long-term care. This care can be provided at a nursing home or in your own home. It can also be given at an adult day care center, hospice care, respite care, an assisted living facility, a nursing home or a special care center. Care may include physical and occupational therapy, speech therapy, and assistance with activities of daily living (ADL). Long-term care insurance policies continue to pay the benefit for a specific period. This could be as much as two, three, four, or five years or a lifetime (unlimited). Long-term care insurance lets you budget to pay the premiums rather than using your personal savings to fund your long-term care.Helpful? 1 person found this helpful.