Is it wise to have a home insurance policy? If your answer to this is yes then I really don't see why you shouldn't have a long term care insurance policy. The reason for getting a home insurance policy is most likely that it protects your most valuable asset -- And that's where you're really wrong. Although the materialism of our times have actually made us think that our house is our most valuable asset, it isn't. Are you surprised?

Your health is much more important than your home. In the event of a threat to your life and property, you most likely will abandon your property to preserve your life. Your house has a meaning because you have life. And if that life becomes miserable, nothing else will make sense. Ask anyone who's had reason to be bedridden and they'll tell you your health and its care are really more important.

And, yes, I know you're not sick at the moment. You are taking good care of yourself and expect to grow old gracefully. If that's you, then you should have plans for long term care. If you live above 70 years, or require long term care before then, you might become a financial wreck by a year's stay in a nursing or under any form of specialized long term care.

Yes, since people live longer these days, the cost of staying in a nursing home is on the increase. If you consider that it costs around $100,000 for a year's stay at the moment, you can predict what it will be a few years from now and the effect it will have on your finances. Compare it with what you'll spend on long term care insurance premium and you'll see what's best for you.

To reduce cost, take time to visit sites that give you long term insurance quotes from several A rated insurance companies. That way you'll be able to save a bundle while protecting yourself.

And, you can really get your long term insurance policy without altering your insurance budget. Just take some time to get quotes on your other policies -- Auto, health and home. A guy was able to make savings of $2,000 plus on his auto insurance by visiting one of these sites. You might not make savings anywhere close to that but be assured that unless you visited five insurance quotes sites just last month, you'll most likely save a few hundred dollars.