A long term care insurance is a necessity because you do not know what the golden years have in store for you. When scouting for a long term care insurance policy always opt for a company that has been around. This is a clear indication that the company is stable and is not a fly-by-night operator who will run away with your premium payments.
When selecting a long term care policy make sure that premium is around 7 percent of your income. This percentage is recommended by the National Association of Insurance Commissioners and is especially for long term care policies. However, many experts do not agree with this. They feel that the calculation should be done on the anticipated income at the time of retiring and not current income. You can use which ever mode of calculation you want, as long as it is seven percent.
Before investing in the policy, it is important for you to determine the benefits you will get. Many times many of the benefits are available through employer-sponsored group insurance policy and this can reduce your premiums substantially.