Health insurance can be used to cover a wide range of healthcare-related expenses, but in most cases, it won't cover the cost of living in a nursing home, assisted living facility or with a full-time caretaker. Fortunately, long-term care insurance can help to protect against these types of costs — which, according to insurance company Genworth, can range anywhere from $1,700 to $9,000 per month.
There are also discounts depending on how you pay your premium.Northwestern's policies come in as both standalone policies and hybrid ones, which combine a whole life insurance policy with a long-term care rider.Best for seniors: New York LifeNew York Life is a good choice for seniors in need of long-term care coverage. The insurer offers traditional policies, as well as a life insurance policy with add-on long-term care options.