NEXT

What is long-term care insurance?

A long-term care insurance policy doles out money to help cover the costs of nursing-home care, an assisted-living facility or at-home assistance if you are no longer able to take care of yourself.

The allure of long-term care is obvious: It's the rare bird (or baby boomer) who doesn't worry about how he or she will afford care later on. And if you're counting on Medicare, you're out of luck. Medicare doesn't offer extended long-term care coverage. (Medicaid does, but only very low-income retirees are eligible.)

Long-term care insurance is very expensive - the annual premium can easily be $2,500 or more a year - and many insurers have jacked up initial premiums by 20% or more over the past decade. (For more, see How much will a policy cost me?)

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.