Long term care insurance is a smart decision for many people. It helps pay for long-term nursing home care or for health care assistance in your home when you get older. But far too few people choose to buy it. Here are some guidelines to follow if you are thinking of buying LTC insurance:  
 
1) You only want to consider companies that have been rated "A++" (by A.M. Best), which means they are of the highest financial strength. It also means that they won't jack up the rates after a few years and they will cover you for either in-home care or nursing home care.  
2) The prime age to buy is late 50s to early 60s. So if you have aging parents, talk to them about it.  
3) You should not buy LTC insurance if you are very wealthy or don't have a lot of assets.  
 
Here is a list of companies that have been rated either A++ or A+ by A.M. Best:

HONOR ROLL
John Hancock Life Insurance Co.	A++
MassMutual Financial Group	A++
State Farm Life Insurance Co.	A++
USAA Life Insurance Co.*	A++
Northwestern Mutual Life	A++
New York Life	A++

 

HONORABLE MENTION
GE Life/Genworth Insurance Co.	A+
Metropolitan Life Insurance Co.	A+
Hartford Life Insurance Co.	A+
Ameriprise (formerly IDS Life) Co.	A+

 
Source: A.M. Best  

* Note: USAA's LTC offerings are actually brokered out to John Hancock and Genworth