A possible alternative is something called asset-based long-term care policies. These are usually life insurance policies that also provide long-term care benefits. They are usually funded with a single premium, but some companies offer other payment options.
For many people the major advantage of asset-based long-term care policies is that they are not a "use it or lose it" product. With some asset-based policies, you will have benefits for long-term care, a death benefit for your heirs, and a full return of premium (less any withdrawals) if you surrender the contract.
Asset-based policies are not a perfect replacement for traditional long-term care insurance, but they are an option that many people should consider.
About the Author: C. Thomas (Tom) Thames is a Certified Financial Planner(TM) professional who specializes in retirement planning and estate preservation strategies.