It's estimated that 1 in 2 Americans will need long-term care at some point in their lives, but that doesn't necessarily mean they'll need long-term care insurance. LTCI policies can be expensive, and the details of what's covered and what isn't can be confusing for most. And one-third of people who need care won't meet the common 90-day deductible period on most policies, because they'll either die or recover before it's up.
So who should buy LTCI? In general, experts say the policies work best for people who want to protect significant assets, so they don't have to sell them off to pay for care. Innovative, flexible policies that cover care from home help, to assisted living, to nursing homes, are usually a best buy. Couples can buy shared policies to help with the cost of increasingly expensive premiums; buying young can also help keep costs down.
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