Long-term care insurance can help cover the costs of care, but how do you know what kind of policy to buy, or even if you should purchase a policy in the first place? Here are some tips. Have you thought about long-term care insurance? Most people don’t until they are approaching retirement and the thought of spending their hard earned savings on care drives them to consider it. Statistics vary from source to source, but some 70 percent of those over age 65 will need long-term care, defined as the services needed when you are unable to care for yourself.