my mil has it.... so like someone said she wouldn't become a burden on her children.......
i don't know what I think about it...

Mary, you should get professional help to decide if you need this (and NOT from someone who sells it!!) - like others have said, if you don't have a lot of assets, you don't need it; if you have a LOT of assets, you don't need it.
Also there is an optimum age at which to start a policy - if you start too early, you wind up paying too much over a long time. If you wait too late, your premiums will be very high.

If you don't know a financial professional to advise you, try Suze Orman's website.

Thank you for your input. I don't look at it as venting. You are just giving your experience which is what I am asking for. Thank you.

You are all being really helpful.

I have been talking to a financial expert but he "works with" the insurance agent and I'm not sure what that means. Does he get a piece of the pie? I don't know.

I would not necessarily trust him. Are you a senior? Try contacting your local Council on Aging, I bet they would have some good info.

here is a good site from the FTC

http://www.longtermcare.gov/LTC/Main...nce/index.aspx

Is your husband a veteran? If so, the VA hospitals may offer some help.

My DH and I are both 55. We sort of fit in the inbetween group. We aren't destitute but we don't have tons either. We do have a nest egg but we aren't rich by any means.

At this point we are both in good health. We each need to lose probably 25 lbs but other than that we are pretty healthy. We are just trying to be smart and plan ahead.

Thanks again for your help with this.

No. He is not a veteran.

LTC insurance not only covers nursing homes but care provided in the home - just one of a few places. There are many components of a policy and you need someone who will take it apart for you. If you have a trusted family member who you feel can help, ask them to sit in on the meeting. This isn't solely about you applying for a policy but understanding how the application and policy works. Just like car or home insurance- deductibles, exclusions and inclusions. It is way too complicated to discuss in a reply here on the QB. So I am attaching a link that will get you started on being informed so you make the best decision. Buy the benefit that makes sense for you is just like buying a sewing machine that will cover your sewing career. Do you want the cheapest? Do you want it to sew like you want it? Do you buy the 1st one you see? Do you let the sales person sell you or do you buy after getting the info? This is a big decision to apply for it. You still have time to discuss with family even after the application has gone to the insurer. Premiums can go up but only if the state insurance board approves an increase for all people holding that series of policies. And yes that has happened to even the largest insurers. YOU MAY NOT QUALIFY for it, either. If you can't get it, then understand that you will pay out of pocket (investments, IRAs, 401K, CDs, SS income, pension) for the care. The LTC advisor/agent should explain all of what you will read in the link. http://www.pueblo.gsa.gov/cic_text/health/ltc/guide.htm

We've had the long term care insurance for over 10 years now, so when we got it, the rates were fairly reasonable for what was covered, in the meantime, that company was bought out and instead of a locked in policy amount, it's gone up every year since the original company was sold, and we're just about to the point of just letting the policies lapse.