See Kimberly Lankford's article on "A New Strategy of Paying for Long Term Care" via Kiplinger and http://finance.yahoo.com/news/a-new-strategy-for-paying-for-long-term-care.html
The important points:
Consider lower compound inflation increases (5% and lifetime benefit policies are very expensive or no longer economically attractive). But watch each states "Partnership" provisions to determine if you want to save benefits from Medicaid spend down.
Shared benefits (between spouses) and linked benefits (life and long term care benefits, or annuity and long term care benefits).
Calculate the estimate period and coverage to be shared. Set a budget for care (say $250,000 to $350,000) as part of your retirement planning, then determine how much you will cover and how much coverage you will share with an insurance provider (risk transfer) remembering insurance is never free.
Look at the definition of days in determining a suitable elimination period (are days defined by use days or calendar days).
Contact the American Association for Long-Term Care Insurance to find price indexes and agents, or contact Larry Beski at Legacy Brokerage 303.250.6306 for more details.
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