Often easier to qualify for if you have minor health issues. Requires a significant lump-sum deposit. 3. Evaluate Carrier Stability When to Buy Long-Term Care Insurance for Yourself - AARP
Before shopping, determine the "shortfall" between what you can pay out-of-pocket and the actual cost of care in your area.
: Decide on a daily benefit amount (e.g., $150/day) and a benefit period (typically 2 to 5 years, though some offer lifetime coverage).
Death benefit paid to heirs if LTC is never used; fixed premiums. Requires a larger upfront premium or higher ongoing costs. Annuity that provides higher payouts if you need LTC.