CNBC Poll: Would You Buy Long-Term Care Insurance?

As Americans live longer, long-term care insurance has grown in popularity over the years. The option allows seniors and family members to offset costs associated with retirement — everything from daily tasks like cooking to full-blown assisted living care and housing.

Reggie Jackson in the 1977 World Series.
Reggie Jackson in the 1977 World Series.

Does the insurance sound too good to be true? It depends.

Premiums for long-term care insurance aren't always cheap. And during the past few years, insurers have exited the sector because they underpriced premiums and Americans are living longer — raising the costs.

Deciding on long-term care insurance also depends on whether family care is part of the mix. Long-term care insurance typically prohibits policy holders from compensating family members, who provide care.

Another growing option to help pay for long-term care is life insurance with a long-term care rider. The optional rider benefit on variable universal life insurance policies allows individuals to use death benefits to help defray costs associated with chronic illnesses.

What about you and your family? Are you considering long-term care insurance an option?

Vote to see results
Total Votes:

Not a Scientific Survey. Results may not total 100% due to rounding.

Latest Special Reports

  • Alibaba Group headquarters in Hangzhou, China

    In-depth coverage on Alibaba's IPO, including roadshow coverage, expert analysis, and Alibaba's stock price.

  • With more than 1,600 ETFs now on the market, learn more about how advisors and investors are profiting from the ETF boom.

  • Unlock the keys to building a successful long-term financial plan: manage your money, grow your money, and protect it.


  • CNBC's Sharon Epperson reports on the drop in 401(k) balances among households nearing retirement. Danielle Hughes, Divine Capital, provides insight.

  • Retiring rich might be as easy as changing your zip code. Personal Finance Correspondent Sharon Epperson explains the pros and cons of staying put versus moving on. Plus, the 5 best cities for retirees!

  • Only 15% of pre-retirees have tried to figure out how much money they'll need for health care in retirement, USA Today reports.