[WSOX47]

I think that it really depends on your level of Risk tolerance and your Health (and Family health history) coupled with your assets. You should note that Medicare will not really be a source for coverage for Nursing home stays. For Nursing Home expenses, they pay on a very limited and very short term basis as Medicare was not funded to be LTC insurance (must be a Skilled level of care, and there are caps on days of coverage). A full year in a typical Nursing Home can cost between $50 - $80K, probably more in the $70K range. While not a happy thought, the realty is that most people who stay beyond a few days/weeks for recouping, usually do not live more than 18 months in a Nursing Home.
So one line of reasoning is to compare the Premiums to what you can afford to be self-insured, using about $50k as an average (less than a year there). If you can afford the $50k to use IF you were ever to use a Nursing Home, and can tolerate that "Risk'' level, that may be the better choice. Remember, there are public programs that may pay the facilities, if you qualify as one with very limited remaining assets (generally your home is not in the limit but the limit is very small, a few $Ks). One of those is the Federally supported (with also basic quality requirements), but state adminsitered, Medicaid Program. Most people in TV probably would need to consult an adviser regarding the Spend-Down of assets to qualify for Medicaid Long Term Coverage.

If you do decide to get coverage, one feature that is mentioned as being critical is the escalation/inflation factor for Benefits. Obviously, the risk of inflation erodingthe Benefit is greater if you take the policy in your mid-50s than in your late-60s. Your own guess on when and if and for how long you'd need is proably as good as anyone's else once you look at some of the overall stats, especially those of your own family.

Hope this helps. It's just my opinion based on some research and experiences discussed with others. I'm personally takingthe gamble that IF I need one that it would not be for many months an dthat either I'll have the wherewithall to pay , or be very able to qualify for Medicaid, or similar, coverage.

And just to get an idea of facilities, you may want to do some research there, too. Many facilities have separate wings for Private-Pay/Medicare Coverage and one for Medicaid Coverage.