Is long-term care insurance a good investment? First, whether or not you can purchase such insurance depends upon (a) availability (that is, is your health good enough that an insurance company would sell you a policy?), and (2) affordability (keeping in mind that most long-term care insurance companies regularly raise their premiums. You should compare the cost of the coverage with that of a nursing home to determine if it is a good investment. It would also be advisable to discuss options with your estate planning attorney.
-Attorney Jack N. Alpern