Employers have fewer and fewer choices for offering long-term-care insurance as a benefit to their employees as more and more companies cease offering policies, says the American Association for Long Term Care Insurance.

Only Genworth now offers true long-term-care group policies for large employers. No one offers it for small employers. Some companies still can get their employees multilife policies, essentially bundled long-term-care insurance written as individual policies but with a 5 percent to 15 percent discount for the group. Individuals have to qualify, which they did not for the most part with true group policies, and rules vary from state to state.

"As long as interest rates stay low, no one is going to offer long term care because it cannot be offered at a reasonable price," says Jesse Slome of the AALTCI.

"Despite the departure of several leading insurers, sales of long term care insurance through multilife plans as well as on an individual basis are increasing," Slome says. "The need has not diminished and the desire by consumers to have some protection in place is higher than we've ever seen."

-Karen DeMasters