LTC insurance covers long term care expenses, such as assistance with activities of daily living or medical care required to manage a chronic condition. The policy will generally cover some of, if not all, the costs associated with skilled nursing facilities, residential care homes, assisted living or other types of similar facilities. It may cover home health care and other costs of care depending upon the terms of the policy. Most policies are sold to individuals through insurance agents but employers can also offer long term care insurance at a group discount. With an employer group policy, the insurance company is not allowed to cancel coverage after an individual's employment ends or the employer cancels the plan.