• LTC insurance can pay for a home health care attendant.angry nurse image by Andrey Kulygin from Fotolia.com
  
  Long term care insurance, also called LTC insurance, is designed to protect you if you or a loved one become sick or disabled and need long term care through a nursing home, assisted living facility or in your own home. The costs of long term care can be overwhelming, and LTC insurance can help alleviate this cost for many policy holders. There are many benefits to LTC policies, but there are several disadvantages as well.
  
  

Policy Costs

• The cost of LTC insurance is too high for many people.stack of cash image by jimcox40 from Fotolia.com
  
  The cost of long term health care can top more than $300 per day or $80,000 to $100,000 per year, depending on the level of care an individual needs. Although the coverage of long term care insurance can help defray those costs significantly, the high cost of long term care translates into high insurance premiums. Premiums for long term health care insurance can range from a few hundred dollars to several thousand dollars per year. Many individuals and families are not able to afford the cost of the premiums and cannot maintain the policy to protect themselves.
  
  

Insufficient Coverage

• LTC insurance often offers the promise of private long term care.Nice woman the doctor costs image by Ella from Fotolia.com
  
  Despite efforts to protect themselves, some policy holders may find their coverage lacking when it comes time to access benefits. A long term health care insurance policy may provide insufficient coverage that fails to meet the total cost of a long term care facility or a private home nurse. In addition, some policies may stipulate a time limit on benefits. Benefits may run out after a maximum number of weeks or months even if the policy holder still requires long term care.
  
  

Confusing Terms

• Many consumers do not understand the stipulations of LTC insurance policies.confused image by leafy from Fotolia.com
  
  There are many different types of long term health care insurance policies, and the terms can vary significantly depending on the details of the policy and the terms stipulated by the issuing company. Many policy holders find the terms confusing and difficult to understand because of the lack of uniformity in policy conditions. Some consumers may not even know what type of policy they are buying when they sign up for coverage.
  
  

Lack of Regulation

• Health care and insurance face continuing regulation reform.nurse chris image by John Keith from Fotolia.com
  
  Although all insurance is subject to regulation in the United States, the long term health care insurance is a relatively new product on the insurance market beginning in the 1980s. Since insurance coverage for long term care has not been around for as many years as other types of insurance, there has been less time for regulatory reform to take place regarding these types of policies. Long term health care insurance policies issued today may not offer the same level of consumer protection as policies issued 10 years from now.