Let me tell you why I have it....My mother's siblings all got Alzheimers, she was the youngest. At age 80 she was getting a little forgetful. We thought, it's now or never. About 20 years ago she applied and did good enough in the mental test to be accepted for the insurance. She got the lifetime payout and paid into it for 5 years, then needed it and no longer had to pay the premiums when she was admitted into the assisted living. Her premium was $5500/year at age 80 times 5 years equals $27,500 that she paid. She collected $110/day for the 6 years she was under care. That comes out to $240,900. Seems like a no brainer. Yes, my brothers and I all have LTC Insurance.
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