News 12 at 6 o'clock, February 23, 2009

EVANS, Ga.---Hardly anything is getting cheaper these days, and that includes long-term care you might need later in life.

Some folks buy insurance for it. But you may need to take a look at your policies and make sure you've got enough coverage.

Dick Desreis is a prepared man. He's invested well over his life. But he says one of the smartest investments was in some research he did a few years back.

"They said if your income is at this level or you've accumulated this estate, you might think about long-term care insurance, or you wouldn't have anything to leave your heirs," he told 12 On Your Side.

Dick says he learned long-term care, whether in your home or in a retirement home, can be pretty pricey. And if you use it for a few years, your nest egg could be gone in a flash.

"It could be gobbled up in five, six, or seven years."

And the prices for long-term care aren't getting any smaller.

Dick's policy has him covered for increased costs, but financial adviser David Chiera says a lot of folks may not be so lucky.

"They bought it 5 to 10 years ago and think I'm good," Chiera said. "They stick it in a drawer and leave it. But you need to check it out, because costs for long-term care have almost doubled in a short time."

So what should you do?

If you're over 50 and you don't have long-term care insurance, shop around a bit and see what's out there.

If you do have a policy, get it out of the drawer and go over it with an adviser. Make sure you're fully covered.

As Dick says, it could really help your loved ones.

"It's not so much a safety net for me as it is whoever has to take care of me."

Experts say the best time to start researching long-term care insurance is in your late 40s or early 50s, before you need it.