if you’re already incapacitated by 50 or 60 its not a waste and since we don’t ever know when we might not be able to perform 2 or more activities of daily living, I don’t think its too much to consider earlier. There is no set age when one can start receiving long term care in an assisted living community. When you have no one else to care for you and you don’t want to encumber your children, its good to have in your arsenal of smart financial decisions.
I agree that you should have inflation protection on your policy and what I like about my policy is the cash benefit I can receive of 35% of my coverage no questions asked. This will save people from making that vile error of reverse mortgaging.
I look at insurance – the entire spectrum- as better to have and not need, than to need it and not have it.