1. Find out if long-term care benefits are available through a group policy from your employer or as benefits from an existing life insurance policy. Then consider supplementing those benefits with a private long-term care policy.
   
   
2. Consider buying a policy before age 60 or 65, because premiums increase sharply between ages 60 and 70. Buying much earlier is even more cost-effective, and also guarantees your insurability.
   
   
3. Evaluate your other financial resources, then consider buying a policy that will pay most but not all of the average nursing home costs in your area. Paying part of the cost out of your own pocket will reduce the premium.
   
   
4. Buy a policy with a waiting period of two-to-three months before benefits are paid. Again, paying the initial payment out-of-pocket will keep costs down.
   
   
5. Check with several companies and agents, comparing both benefits and costs. In addition to checking current costs, find out how often each company has raised premiums in the past.
   
   
6. But don’t rely on price alone. MOST IMPORTANT: Because you may not collect for decades to come, be sure to buy from a company that has been around for some time and is financially stable. You may want to look up a company you're considering in a guide such as A.M. Best Company, Standard and Poor's, Duff and Phelps Credit Rating Company and Moody’s Investors Service.

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