We are looking at buying a hybrid whole life insurance product from Guardian Life for each of us with long term care rider. I know Bogleheads and lots of others pooh-pooh whole life and we don’t have it now (we have term life insurance due to expire in about a decade). My DH has had cancer and other issues which make conventional LTC premiums very high and I balk at paying those knowing that we kiss that money goodbye. At least with the hybrid product you get something back (if you don’t use the money for LTC, it will be in the death benefit). These policies have pretty high premiums for 15 years then none thereafter. We could do it by making some minor lifestyle adjustments. Of course this assumes that we will make it through the underwriting process.
I know many say “self-insure” for LTC but that really only works if you’re already wealthy. Also, I am very risk averse and I don’t have any desire to actively manage my money. Call me lazy and fearful. Yes, I am. I don’t want to be on the street or going to my daughter for money. It’s a conundrum.