[justlurking]

If you have a spouse or other dependents, consider it. If you don't, there's really no need for it.

Medicaid will not pay for long-term care until you are essentially bankrupt. I won't put that risk on my wife, so we have long-term care policies.

You get a substantial discount if both spouses get a policy at the same time. If you get it at an earlier age, while you are still healthy, the premium will be much affordable. If you wait until you are sick, it will be much more difficult -- if not almost impossible.

Make sure you get an inflation factor. And, if your state has a Medicaid partnership program, Medicaid will pick up the remaining expenses your long-term care policy doesn't cover. But, the policy must meet certain criteria.

[mojo114]

“Medicaid will not pay for long-term care until you are essentially bankrupt.”

Precisely why we are looking into the policy. Many of our friends parents used every cent they saved and the money from sale of property to pay for nursing home care.