Is Long Term Care Insurance Right For Me? 
If you are either very rich or very poor , long-term care insurance is probably not for you . The very rich can afford to pay for their own care . The very poor will not be able to afford the premiums and can use Medicaid for their care . For everyone else in between , long term care insurance is a must . 70 % of folks 65 years old and older can expect to need some kind of long-term care in their lives . And the cost of the coverage is much less than the annual semi-private room in a nursing home in Illinois cost of over $ 62,000 or homemaker services of over $ 40,000 . 