“Take your time making this decision.” Long-term care insurance is not for everyone. First off, be sure you can afford the premiums. If it would be a financial hardship for you to make monthly premium payments, or if you would have to forego necessities to keep the policy, reconsider. However, if you have significant assets you want to pass on to the next generation, that may be a reason to go ahead with a purchase. Here are steps you may want to take before signing on the dotted line:

Look at several policies and compare what they cover. Not all cover the same things. Not all have the same restrictions. Ask a family member for input about your need for the insurance, and regarding what the plan covers and/or restricts. Check out the company offering the policy. Independent ratings agencies can tell you if the company is financially stable and likely to be around when you make a claim for benefits. To do this, log onto www.ambest.com, or www.weissratings.com.