Originally Posted by JoeWras
There's a whole different thread on LTC which is primarily focusing on late age (80+) LTC usage. Glad you started a new thread.
We have it for younger age. We're in our 50s. We'll let it lapse as we get older.
And, here's another case where there's no suitable true insurance product. I'm not aware of anybody that sells "term" LTCI. If, for whatever reason, a customer wants to self-insure for LTC when they get older (e.g. they'll have enough assets for that due to the anticipated growth on investments, an inheritance, a successful career taht will let them put a lot of money into savings, etc), they should be able to buy a policy that covers only the next XX years. It should be considerably cheaper than one that covers old age (when likelihood of needing care is higher).
In your case, your premiums could be a lot lower than what you are paying today, since your premiums are primarily being "banked" for a liability the insurance company expects to occur decades down the road.