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Note: Will copy and post question to Insurance and Early Retirement boards.

Situation: Age 51, married, one teen at home.
Expected retirement annual cash flow (5%) of portfolio
to exceed $80,000 (today $).

I have read that the cost of LTC could run from $30,000 to $50,000 per year and that why LTC insurance is recommended. The rates are lower if purchased at a young age (less than 55). (I saw the article on LTC rates that increased and so know to be wary of sales pitchs).

Some of the policies I have seen have a cap as to the time in LTC - like 2 to 5 years. The assumption is that entry into LTC is shortly terminal.

My question is that for someone like us with a high networth, we could fund LTC for both of us for close to 20 years, does LTC insurnace make much sense (other than to an insurance agent.)

Of our 8 grandparents, only one entered LTC and that was for less than a year. 6 of the 8 grandparents lived into their 80's.

I am curious as to those in retirment with large annual income, do they have LTC insurance? What are the payouts and why did you decide to purchase LTC?

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