Long term care insurance — worth it?

Terry Says

Only if you become incapacitated –and require home care, which now costs more than $6,000/month in a big city. Your alternative at that point would be to sell all your assets, and then apply for a Medicaid funded nursing home (not the place you’d like to be)!

What are the odds? Once you’re over 65 you are 10x more likely to need some months of LTC than to have your house burn down. Yet you still keep paying for homeowners insurance, don’t you?!!