Myths about long-term care.

Not always, it depends on what type of policy you have.  There are policies pay for assisted living others even pay for you “age in place” and have the necessary level of care come to you.  Talk to you agent about your options.

This one is sometimes true.  However, it is becoming more and more popular to get long term care insurance as a rider on a life insurance policy.  In that situation if you need long term care it is paid for from the death benefit and if you do not your beneficiaries get the full value of the life insurance.

False, medicare does not pay anything towards long term care, it will cover for short term rehabilitation only.  Medicaid may step in to help but only after your assets have been depleted to a near poverty level.