Buying long term care insurance is only worth it if you have assets (ie real property) to protect and beneficiaries to will your assets to. Otherwise, there isn't a need for it. The state medicaid program will normally cover your skilled nursing costs if your income is low enough (currently around $2136/month for a single person) and your assets (usually less than $2000/month) are minimal. If you have resources and real property, the state will make you expend those resources, or sell those assets before becoming eligible for the state medicaid program. If you are unable to sell the property, after your death, the state medicaid recovery program will place a lien against that property to recoup whatever costs they have incurred on your behalf.
However, if you want to pass on your property to your beneficiaries without a state lien, you might want to consider long term care insurance. Because---old folks fall and they become ill, they will need rehab or skilled care to repair what's broken.
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