Author: Andrea Miller
Reviewed By: Gene Altaffer

Thrivent long-term care insurance covers assisted living. The company sells a variety of LTC insurance products that pay for expenses such as help with activities of daily living, as well as hybrid life and LTC insurance policies. The financial advisors at Thrivent help clients tailor plans that meet their needs and goals.

How does Thrivent long-term care insurance work?

Thrivent long-term care insurance works by paying the costs of assisted living care. You buy the policy with a set premium amount upfront. When you need to move to assisted living, file a claim with your LTC provider. Once you pass the policy’s elimination period, usually less than 90 days, the insurance company will pay for assisted living services up to your daily or monthly limit. During the elimination period, you must pay LTC expenses out of pocket.

Do I need long-term care insurance?

You need long-term care insurance if you have concerns about paying for assisted living care as you age. The National Institute on Aging recommends purchasing this type of policy if you think you may need assisted living in the next 25 years. About 70% of Americans require long-term care at some point after turning 65. Buying coverage as a younger adult helps you save on the costs of your LTC insurance policy. If you wait until you have a chronic illness or need daily assistance, finding an affordable policy becomes more difficult.