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  • Generally you can get a true, prepaid plan that provides a set number of hours of care contractually, based upon the prepayment amount.

    Also popular these days (especially for those that cannot qualify medically for traditional long term care insurance policies) are annuity based hybrid products. They act as an investment. Your money grows as usual if you don't need long term care. Later on you have the option of getting annuity payments if you would like to receive income. However, a number of companies will allow the annuity payments to cover long term care and in that circumstance actually offer a multiple of the original payment.

    These products vary by state so you'll have to do a little research.

    Good luck!

  • Login to rate this answer:   Answered on 3/7/2014
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.