Long Term Care Insurance: Why or Why Not?
A recent article in the NY Times talked about buying long term care (ie. nursing home) insurance, but my financial planner seems to caution me against it. I'm a 50 year old woman, single, in excellent health, with a very long (90s) life expectancy. I expect to retire at about 62 or so. I've been a teacher all my life and have been diligent about savings but I certainly will not be rich in retirement. Can someone argue the pros and cons of buying this insurance?