There are new ways for people to plan for the financial costs and burdens of aging. Traditional Long Term Care Insurance is generally the most affordable way, however new hybrid plans combine life insurance with Long Term Care. This allows a single premium and death benefit if you should be lucky enough to never need care. Since 70% of us who reach the age of 65 will need some type of Long Term Care (according to HHS) we better consider something otherwise we could lose everything (or at least a lot) and burden on family in the process.
The bottom line, some plan is better then no plan. Learn all your options from a LTC specialist who understand who all these plans work, how they are underwritten and how they get used at the time of claim. Act before you retire when you have the most available and affordable options.