We bought our (separate) LTCi policies 20 yrs ago. Premiums have increased dramatically, which we were prepared for because I had worked for decades for life and health insurance companies. I understood how the actuaries were pricing it and IMHO they were incorrect.
I told my spouse we should be prepared for future price increases. Fortunately our income increased over the years and retaining the policies remained a low-figure budget item.
Four years after we bought the LTCi policies, my spouse suffered a severe hemorrhagic stroke. He was 50 yrs old.
Fortunately he recovered very well. I took ER in 2006; he took ER in 2010.
Due to my MIL's dementia we researched and have kept abreast of seniorcare facility and Skilled Nursing Care costs in our area. We live in a high-cost labor area.
A studio apt in a CCRC is roughly $3500-4500/mo. SNC, which is also used for convalescent care, is around $8300/mo at non-profits and $11-16,000/mo at for-profits.
Just FYI you have NO guarantees with a CCRC that it will still be in business 20, 30, or 40 yrs from now. In fact, depending on how strong the consumer laws are in your state, you can in fact be dumped on the sidewalk and told, "Now it's your responsibility to figure out where you're going to live."
If you read the fine print on a CCRC contract it almost certainly will say you must enter arbitration to resolve any disputes.
Care is better and staff morale higher at non-profits, however for-profit corporations are rapidly buying up non-profits. Why hassle with new builds and fighting for permits, when you can just take a headache away from a local church with a business loan you can write off anyway?
We have watched four non-profit CCRC's sell to corporations in the last two years, just within our city.
We have LTCi to protect the assets for the other, if one spouse becomes severely disabled. We ran the #s, and there was no other way to mitigate the risk.
Both of us have bad family genetic histories, so we have a higher than average morbidity risk, although an average mortality risk. To evaluate LTCi, you need to understand the difference.