Long-term care insurance should be considered by anyone who has assets or savings that they would like to safeguard. Generally, you should only seek out long-term care coverage if your other assets (home equity, investments, other insurance) are not enough to cover your care in the event of an illness.
Not having other resources could mean that you will need to go on Medicaid, a public insurance program for those who cannot afford their own care. Medicaid will only cover your costs if you have assets worth less than $2,000, meaning that you would have to pay all of your expenses out-of-pocket until this number is reached.
In order to determine whether or not long-term care insurance would be a good choice for you, it is important to review your financial situation, current health and family history. This will give an estimate of your chances of needing long-term care in the future, helping you decide whether or not to get coverage.