Experts recommend doing research before talking to an insurance agent about a policy.

Figure out which coverage would be the best fit by checking Web sites such as that of the National Clearinghouse for Long-Term Care Information (http://www.longtermcare.gov).

Given today's shaky environment, make sure your insurer will be around awhile by checking that it gets top financial ratings from at least two of the main insurance-ratings companies, such as A.M. Best, Moody's, Standard & Poor's, and Weiss Ratings.

Here are five things to know about long-term care insurance:

• It's not medical insurance

The biggest misunderstanding about long-term care is that many people mistakenly think their health insurance or Medicare will pay for the cost of it, said Mickey Batsell, an insurance agent from Leander, Texas, who specializes in long-term care insurance. Medicare pays only for some medically related home care and short-term stays in a nursing facility.

Long-term care insurance ''doesn't have anything to do with medical or doctors or hospitals,'' he notes. ''It basically pays for someone to do those tasks that you cannot perform yourself or that you need assistance with.'' Benefits typically start when a person can't perform at least two of the daily living activities specified in their policy, such as eating, bathing, using the toilet, transferring to and from a bed or chair, dressing and continence.

• Cost and risk increase the longer you wait

The average age at which people sign up for long-term care insurance is 61, but waiting longer will add to the cost and increase the chances of a health problem that will cause you to be rejected. Discounts for good health that can reduce the policy cost by 10 percent to 20 percent a year may be harder to qualify for.

''Your good health can obtain and lock in discounts; your bad health could cause you to pay more or be ineligible,'' said Jesse Slome, executive director of the American Association for Long-Term Care Insurance, which recommends buying it in your 50s. ''Many people wait too long to start the planning process only to discover they can't get coverage no matter how much they are willing to pay.''

Fourteen percent of applicants age 50-59 were declined coverage last year for failing their physical, compared with 23 percent of those in their 60s and 45 percent of those in their 70s.

• If you stop paying, you might lose what you paid in

Dropping coverage might cause you to lose part or all of the money you paid in, depending on the policy and insurer. That has happened to some when the insurer raised premium rates by double digits. Ask about the possibility of a non-forfeiture benefit.

• Women are much likelier to need it

Most coverage is purchased jointly on behalf of couples but more than 70 percent of nursing home residents are women and almost two-thirds of paid long-term care benefits go to women, according to the long-term care trade group. ''Women, especially those who are divorced, widowed or living alone, need to plan for the risk,'' Sloane said. They also live longer on average, which increases the likelihood of them using more.

• Some insurance is better than none

If you can't afford all you need, there are ways to make it less costly. Skipping the inflation protection or buying the right to purchase additional coverage every three years will save money. So will opting for a longer ''elimination period'' — the required time before the coverage kicks in when you have to foot the bills. ''Something is better than nothing,'' Batsell said.