I've been hearing about long-term care from my parents since my sister moved out two years ago. They'll have to let me finish college before buying it, however. What is the purpose of long-term care insurance? Do my parents need to buy it?

  • Are you asking if it's advisable for your parents to purchase long-term care insurance, or for you to purchase it now? Also, where are you located geographically? The answer may vary from country to country. Sep 26, 2013 at 2:55
  • Advisable for them to purchase. I am currently out and about in Asia studying but my parents are in USA. Oklahoma to be specific Sep 26, 2013 at 3:00
  • 1
    The answers to this question may give you enough information. Basically, it depends on their asset levels, their current age/health, how much they intend to pass on as their legacy, etc. This question also covers some of the basics of long-term care insurance. Sep 26, 2013 at 3:04

2 Answers 2


Yes. My parents bought it quite a while ago; my father ended up in Alzheimer's care, and my mother needed full-time care for a couple of years. The long-term care insurance paid a significant amount of money; for my mother, it was something around $60K.


The purpose of long term care insurance is to pay for your long term care while protecting your assets. This is highly recommended to people who have high risk factors or family history. People who will most likely receive care should purchase this as early as possible in order to avoid the soaring cost of coverage and care. Another reason why people should buy this is is because of the much longer life expectancy today. Statistics would show that about 70% of people who are 65 years old will need long term care. This is obviously high and alarming. For me, this is enough to encourage people to prepare for their future and buy insurance for long term care.

  • I agree with C. Ross here. More people will need long term care today because of the longer life expectancy and the most efficient way to pay for this is through long term care insurance. According to ltcoptions.com, this insurance product will cost you between $1,000-$8,000 year which is still a lot cheaper compared to paying out-of-the-pocket. Since your parents will be left alone, they'll greatly benefit from this once they need home health care or they need to move to a facility.
    – user11437
    Nov 22, 2013 at 3:56

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