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.
The Rocky Mountain Farmers Union says the costs of health insurance have become so high that many people who work in Colorado’s rural areas carry policies that only cover them in case of a dire emergency.