A few companies offer individual long-term care insurance plans, which pay for stays in nursing homes and chronic care facilities, or for the services of a caregiver in your own home.
When deciding whether to purchase such insurance you should consider your age, health and financial resources, along with any support you could expect from family and friends should you need long-term care.
There are variations among longterm care policies. Inquire about the
maximum lifetime payout, inflation protection, and the length of time you must pay premiums.You should also find out whether your premiums are waived, or discontinued, whenyou make a claim and are receiving
benefits.