Kimberly Lankford, personal finance writer for Kiplinger.com and Kiplinger's Personal Finance magazine, talks to David Greene about the shifting market for long-term-care insurance, and if it is still worth buying.
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Americans routinely buy all sorts of insurance — for cars, homes, health and even pets and boats.
But when it comes to long-term-care insurance, relatively few sign up. Out of more than 313 million Americans, only about 8 million have any such protection, according to the American Association for Long-Term Care Insurance. The low participation rate largely reflects the high cost of long-term-care insurance.