In the May 28, 2012 New York Magazine headline story,  “A Life Worth Ending“, award winning journalist Michael Wolff  brilliantly and poignantly describes his mother’s decline.  He describes her as being in a continuous state of disquiet. “Her bewilderment and resignation somehow don’t mitigate her anger.” He states she has been “reduced to a terrified creature.”

This well-written and compelling story should be a “must read” for all because every one of us has been or will be directly involved with a need for long-term care.

Mr. Wolff mentions that his mother owns long-term care insurance (LTCi) and has collected from it handsomely. He also gives useful and correct statistics and information on the costs and odds of needing long-term care (LTC).

Most disturbing to me is Mr. Wolff’s refusal to purchase LTCi, even though he admits the odds he will need LTC are quite high, and that he would like to reduce family strife.  He also admits he can readily afford LTCi premiums. This refusal is based on the flimsiest and most irrational denial. I wish I could say such blatant denial was exceptional, but concerning reasonably priced LTCi and responsible LTC planning, such excuses are unfortunately the rule.

In my opinion, the primary reason more people don’t own LTCi is because they irrationally convince themselves that they will not need LTC, despite the very high odds they will.  When people fail to plan responsibly yet wind up needing LTC,  we often see  largely avoidable, heartbreaking costs and family suffering.