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Long term care insurance has always been an iffy investment at best. Only one third of policy owners ever collect a dime. And if the actuarial estimates are accurate, your odds of getting your money back are one in six. You get better odds than that at a casino.

If you can afford it you are better off self insured.

Potential customers fall into three groups. The low income cannot afford it. The well off are better off self insuring. So long term care insurance is aimed at the Ralph Cramdens of the world, the wage slaves who live from paycheck to paycheck. And even they probably have better things to do with the money.

I'd say those who buy Long Term Care Insurance should have a well thought out reason for doing so. For most the numbers do not work.
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