Is Long Term Care Insurance A Good Deal? 
That is a great question ! Any time I am asked this type of question , I 'll always ask the same thing : `` Can you afford to pay between $ 60,000 and $ 80,000 a year if you or your spouseneed to go into a nursing home ? '' If the answer is yes , then I tell them to save their money , and invest it elsewhere . Since the answer more often then not is no , I advise them to purchase a policy . Statistics show that nearly 70 % of Seniors need some form of long term care at some point , and these policies are still relatively cheap , with great coverage . It is definitely a good piece in a retirement package . Far too many Seniors have seen their nest egg disappear too quickly as a result of medical needs . Please do n't be one of them . Thanks for asking ! 