There are 46 million Americans over the age of 65, and the expected percentage of people turning 65 who will need long-term care during their lifetime is 52.3 percent. However, as of 2014, only 7.25 million individuals had LTC insurance coverage.
Why do so few have it? It costs a lot more than people want to spend, and it is difficult to picture yourself so incapacitated that you can no longer take care of yourself. Many people ignore the issue and hope they die in their sleep.