In case you hadn't noticed, the premium for a traditionally designed long-term care insurance (LTCI) policy has finally exceeded the ability of the middle class to pay for it.
(If your target market does not include the middle class, read no further. This article will be of no interest to you. There are plenty of ways for the affluent to transfer the risk of having to pay long-term care costs to an insurance company.)
Having to pay for at least some private care for daily activities before dying is a real possibility. Caregivers will be spouses or adult children.
Beyond family, the cost for private caregiving may be high. Paying for those costs out-of-pocket can deplete investments and savings, and may require the sale of real estate.
There are many local senior care service advisors. A good number of them are provided by the states' department of health or the department of aging and are free.
Paying premium on a long-term care insurance policy for several years and then dropping it is a waste of money.