Long-term care insurance guarantees that you’ll receive payments to cover care (like assisted living or nursing homes) for a certain period of time. Indemnity-type long-term care insurance offers more flexibility than other types. This type of insurance pays caregivers directly, and you’ll receive the daily benefit directly as well.

Premiums rise with the age of the insured individual, so you’ll receive a lower price if you purchase this insurance at a younger age.