6 Ways To Save On Long-Term Care Insurance

As we live longer and longer, it becomes more and more likely we'll become sick or disabled enough to require long-term care, either at home or at a facility such as an assisted living center or nursing home. At the same time, long-term care insurance is becoming more and more expensive, and it can seem daunting to find a policy at the right price.    

According to a survey from the American Association for Long-Term Care Insurance, premiums increased by as much as 17 percent from 2011 to 2012, meaning that a typical individual policy that carried an annual price tag of $1,480 in 2011 now costs $1,720.          

... The reasons long-term care insurance costs keep increasing are twofold. The cost of long-term care itself has skyrocketed [...] On top of that, record-low interest rates have hurt profits for insurance companies, which are heavily invested in bonds. So, insurers have been forced to raise the premiums they charge for coverage.              

Despite the challenges, experts say you can buy long-term care insurance that will protect you and won't completely break the bank.