I remember people like Suze Orman were always handwringing since the 1990s about "Why doesn't the market take off in long-term care insurance?"
The obvious answer is that it doesn't work. One is that inevitably you get done in by cost disease, the other is that LTC insurance has a narrow market of people that can afford it but are not rich enough that they don't need it.
It is a deeper problem than that. Why buy insurance when you can create a trust to hide your assets and have the taxpayer pay? (Once you’re broke, you go on Medicaid)
There’s no nice nursing home or homecare. You just need enough money to get in, and the provider can’t kick you out. If you have a good support network, the only “enhanced” level of care is hiring people off the books with cash.
