Is long-term care insurance an option?
You can purchase long-term care insurance, but the numbers of companies that are offering it have been dwindling over recent years. The older you are, the more expensive it is, and the companies can raise the rates after you have purchased the coverage.
They also have a period of time that you have to wait out before they will start providing the benefit. It is typically 60 or 90 days, so you have to take this is the account. Many would say that long-term care insurance is not a very good investment all things considered.