1. Life insurance with accelerated death benefits - the death benefits normally does not increase over time, the result is that the death benefit has to be a very substantial one in order to create an adequate long term care solution, thus increase the cost.
2. Life insurance with chronic illness or long term care riders - it can provide more protection against long term care costs than policies with accelerated death benefits, and the rates are normally guaranteed. However, the riders create an added expense to the policy whether there is a cost to the rider or the cost is imbedded in the cost of the life insurance.
3. Term life insurance - it is very inexpensive, but it usually lapses before the need for long term care arises due to the greatly increased cost of renewing them.
4. Deferred annuities with benefits for long term care - the growth in value of the annuity is reduced by the added risk of providing benefits for long term care and grows by a smaller rate than other annuities.
The bottom line - there is no perfect solution, you should compare different options and pick the one that works for your needs the best.