Yes, LTC is something I will consider as I get older, as dementia runs in my family. I would love to see what the policy coverage is for $200/mo, that sounds mad cheap to me! I tried to get my Mom into a LTC policy once Dad passed away, but the cost was well over $1K/mo, and she had visions of us locking her up and throwing away the key, so she balked.
Fast forward not many years later, and my Mom lives in assisted living. She was living in one of the most expensive areas of NY, so I priced her care at $20K/mo in some places! Family issues and cheaper costs enabled us to move her to TX instead, where I originally had her in a very nice assisted living facility for "only" $4,500/mo. As she continued to decline in health, I moved her to a much smaller facility with better care and a cheaper price of $3K/mo. This doesn't include medical, prescriptions, activities, etc. She's been under hospice care for years, she's been in crisis care twice already (this is when they are pretty sure you are going to pass away w/in days), she has seizures every other month along w/a few strokes sprinkled in for good measure, and she still carries on. Tough little cookie. ;)
Her care is approaching the $200K mark at this point. Good thing my parents were frugal savers, but I'm sure they didn't want their hard-earned cash to go to this service. Had they planned appropriately w/a LTC Policy and/or estate planning, the financial picture would be very different.
The way I see it, it's my parents money and it should be spent to take care of their needs first. If there's anything left, great, but I'm not counting on that.
Oh, and my mom is only 74, so she could live like this for many more years. Early-onset, at least 12 years that we know of.