Out of more than 313 million Americans, about eight million have long-term care insurance, according to the American Association for Long-Term Care Insurance. An estimated 11 million Americans need some type of long-term care each year. Premiums are so high and policies capped at three years because of the risk involved for the insurer. Experts say LTCI can be a big help for people without children and with small retirement savings, but it’s not a fix-all. For instance, many people live beyond the three-year cap, and new policies are being written with more restrictions to limit insurers’ risk. Some might think it makes more sense to build up a retirement savings account instead of spending money on premiums, but that is a decision that requires careful study.