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<blockquote data-quote="3Roosters" data-source="post: 221784" data-attributes="member: 1351">I don't subscribe to &quot;investing the premium cost&quot; into some other type of investment to grow for a good number of years vs paying a premium each year for the following reasons. #1. No one can predict when or even if long term care coverage is needed...ie..what happens if you put that $8000 amount aside(or whatever amount you decide) to invest....yet end up going to the home in 2 yrs for example..that $16000 saved(plus interest earned) surely wouldn't pay for many months in a nursing home. Of course if you didn't need nursing home care of a good number of years then for sure your $8000 set aside each year should grow to a nice amount, but life doesn't always work out the way we planned. At least with long term care coverage, you are covered from day 1 if something should happen in the near term and wouldn't have to worry about how long you would need to keep putting $8000 aside to grow to your magic number.&nbsp;I guess that's the way most insurances work, using a portion of income/assets to transfer the risk to an insurance company.If a person had a choice, I am sure they would rather have auto, fire, health etc etc insurance and NOT need it than need it and not have it. I also think a good financial planner is key but also believe insurance can play a key part in a plan.</blockquote>

[QUOTE="3Roosters, post: 221784, member: 1351"] I don't subscribe to "investing the premium cost" into some other type of investment to grow for a good number of years vs paying a premium each year for the following reasons. #1. No one can predict when or even if long term care coverage is needed...ie..what happens if you put that $8000 amount aside(or whatever amount you decide) to invest....yet end up going to the home in 2 yrs for example..that $16000 saved(plus interest earned) surely wouldn't pay for many months in a nursing home. Of course if you didn't need nursing home care of a good number of years then for sure your $8000 set aside each year should grow to a nice amount, but life doesn't always work out the way we planned. At least with long term care coverage, you are covered from day 1 if something should happen in the near term and wouldn't have to worry about how long you would need to keep putting $8000 aside to grow to your magic number. I guess that's the way most insurances work, using a portion of income/assets to transfer the risk to an insurance company. If a person had a choice, I am sure they would rather have auto, fire, health etc etc insurance and NOT need it than need it and not have it. I also think a good financial planner is key but also believe insurance [U][B]can[/B][/U] play a key part in a plan. [/QUOTE]

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