By Anil Patil
The price you pay for long-term care insurance depends on how old you are when you first apply for the policy.
Shop around to find the best deal.
Look for a reputable company with good reviews.
Some employers offer group long-term care insurance policies.
If both you and your spouse are purchasing long-term care insurance, a shared care policy might be able to give you more coverage for less money.
Instead of purchasing the maximum daily benefit you might need in a nursing home, you can consider paying for a portion of the daily benefit yourself.
The most significant cost-saving step you can take is to not purchase a lifetime policy.
The longer you make this waiting period, the cheaper your premiums.
Inflation protection increases the value of your benefit to keep up with inflation and is almost always recommended.
Government programs, such as Medicare and Medicaid, can cover some of your expenses.