The cost of long-term care (LTC) is tremendous: nearly $84,000 annually for a nursing home and typically more than $30,000 a year for home care. Among people turning 65, more than two-thirds will eventually need LTC - services that are not covered by Medicare or private health insurance. Given this risk, you might expect sales of private long-term care insurance (LTCI) to be strong. But they're not.
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