Response to America’s Declining Net Worth:
Long-term care insurance’s price varies greatly depending on the holder’s financial capacity, duration of the premium, and the long long term care insurance company ratings (which basically means the company’s reputation in the industry). For example, the typical price of premium per month is $200 payable for (a sample number but not strictly limited to) two years. (SOURCE)
Getting old is okay because that’s how nature works. Getting old without any savings or long term care insurance to look over your life when your body start’s defying your mind, now that’s an ugly sight. As much as I want to emphasize the importance of having an LTCI to support them when they grow old, there are some people just too stubborn to simply rethink the idea of availing one.
I still really think that long term care insurance is one of the most important insurance policy that many individuals should avail. Yes, I understand on how many Americans still consider it as a 50-50 kind of insurance but I guess that is the real deal of it, you may need OR you may not. Availing one is not a gamble but more of an assurance of the possibilities that is likely to happen in the future. Analysts (SOURCE) are even eyeing the treat of the baby boomer tsunami that is likely to happen in the next 40 years or so.