Long term care insurance helps ensure that your loved one will be able to access the care they need when they can no longer care for themselves. Studies indicate that about 70 percent of adults age 65 and older will need some form of long term care, also known as custodial care, during their lifetime. Currently, Medicare doesn't pay for long term care and Medicaid only pays under certain cases of financial hardship. These facts underlie the need to work with long term care insurance providers.

Long term care insurance agents can help you find the right coverage plan for your loved one. You can work with a captive agent, who works directly for an insurer and sells only that company's products, or with an independent agent, who is able to offer a range of policies from different providers. Either way, your long term care insurance provider will work with you to find the best policy for your specific needs to meet your budget.