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CNBC Poll: Would You Buy LTCi?

 From  As Americans live longer, long-term care insurance has grown in popularity over the years. The option allows seniors and family members to offset costs associated with retirement — everything from daily tasks like cooking to full-blown assisted living care and housing.
Does the insurance sound too good to be true? It depends.
Premiums for long-term care insurance aren’t always cheap. And during the past few years, insurers have exited the sector because they under-priced premiums and Americans are living longer — raising the costs.
Deciding on long-term care insurance also depends on whether family care is part of the mix. Long-term care insurance typically prohibits policy holders from compensating family members, who provide care.

Another growing option to help pay for long-term care is life insurance with a long-term care rider. The optional on variable universal life insurance policies allows individuals to use death benefits to help defray costs associated with chronic illnesses.

What about you and your family? Are you considering long-term care insurance an option?   Would you consider long-term care insurance for yourself or a loved one?

Yes. Premiums are worth the coverage and peace of mind.
No. The premiums are too expensive. I’d rather try saving on my own.
Total Votes: 379
Not a Scientific Survey
Results may not total 100% due to rounding
© 2012 CNBC LLC.  All Rights Reserved
Editorial commentAssuming the results of this survey are valid and reliable, WHAT ARE YOU WAITING FOR?   If every insurance agent, financial advisor, wealth manager, and CFP would simply ask the question –   Do you have a plan for paying for the high cost of end-of-life care?” – the awareness factor could be greatly increased.  Don’t “sell” product.  Rather, present the value proposition to the 70% that don’t believe premiums are too high for the benefits!  (the government sure isn’t going to do it).  – wkb 

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