Genworth's eighth annual Cost of Care survey found that costs for care in assisted living facilities and nursing homes have increased over the past year, while in-home care has held steady. The median annual cost of care for a private room in a nursing home increased over 3% to $77,745, according to the report released May 26, while the median annual household income is $49,777.

The hourly cost for homemaker services such as help with cooking and cleaning was $18, and for home health aide services, which include non-medical personal care such as bathing, was $19. Both types of care increased 0% over 2010. The report found the median cost for adult day care $60 per day, which also experienced no increase over 2010.

Care in an assisted living facility, however, increased 2.39% over 2010 to over $3,000 per month. A semi-private room in a nursing home costs $193 per day, while a private room costs $213 per day.

“Advisors have spent their careers talking to clients about wealth accumulation. In today’s economy, a conversation that includes wealth protection is imperative in order to create a truly comprehensive retirement plan,” said Colleen Goldhammer, senior vice president of long term care distribution at Genworth Financial, said in a statement.

Genworth found that the compound annual growth rate for facility-based care is 4.35%, while for home care, the growth rate is just 1.38%. Part of the reason for this, according to the report, is increased competition among agencies and the availability of unskilled labor, in addition to lower costs than those associated with a stand-alone facility.

Goldhammer stressed the importance of being prepared for health events that could come up unexpectedly.

“The risk of an unexpected long term care event is a common concern for many American families, and can have a significant impact on family’s financial future. Financial advisors have a great opportunity to educate and plan with each and every client to address this very real risk," she added.

The American Association for Long-Term Care Insurance announced May 31 that sales of life insurance policies with long-term care benefits increased nearly 80% in 2010, with women leading new sales. Most of those women were between ages 65 and 74, while male purchasers tended to be slightly older.