As I said, we really do not need to worry on the income side, even if both of us wind up in a home. There is NO annuity or other investment product that can give us enough money tomorrow, should I need it for long term care. Even the money I could save and invest over the next 10-20 years would never be enough to cover a fraction of what my policy would give, and care never gets less expensive. As I said, we shopped like crazy, but also looked at other ideas. But as to other strategies, no.
Nothing comes close to covering the cost of ltc.
People who think otherwise will wind up using a bigger chunk of their savings than they will ever spend on the insurance. One of the motivating factors in our decision was a neighbor who is now in a nursing home. The husband was a pretty sharp investor, but within the next year, they will qualify for Medicaid. He will have to start digging into the principal almost immediately. The sad part is he is only 65 years old, so his plan of living a comfy retirement are shot to hell.