Long-term care insurance is the coverage that pays when an elderly person needs care at home or in a nursing home. It’s a great product, but nearly no one buys LTC coverage these days. A law on the books makes it much tougher for people to get government help for this kind of care. So it’s up to you. What are the odds you may need long term care, you may be asking? If you reach age 65, about 70 percent of us will need long term care, according to the New York Times. That’s three out of four people. So, who should buy it and when should you buy it? Well, if you are loaded with dough (assets greater than $3 million) or you have almost no assets at all, you should not buy LTC insurance. Everyone else needs it. The time to buy is in the late 50s and early 60s. If you buy after that it can get too expensive. Clark recommends nine companies over any others and he has a buying guide to help you along. Check it out here. For more help with LTC coverage, click here. Clark prefers LTC coverage that has a lifetime benefit, rather than those that last a period of years.