How Long Has Long Term Care Insurance Been Around? 
Long term care insurance is a relatively new form of insurance . It has been around since the early 1970s . In those early days , it was primarily seen as `` nursing home '' insurance that provided indemnity benefits . Indemnity policies pay a specified amount for each day of covered services regardless of the actual costs incurred by the insured . It has evolved beyond this limited beginning to reimburse the insured for costs he or she incurs for comprehensive covered services in one 's home or in a nursing home or assisted living facilities up to a daily , weekly or monthly maximum stated by the policy . 