Long-term care (LTC) and disability insurance: Suitable?
Provides reimbursement of nursing home costs or income in the event of disability. Benefits (if funded by after-tax dollars under a qualified policy) are generally tax-free.
These products may not be of interest to the high net worth market because
(a) the carriers are unwilling to write policies at the income levels the you desires, and
(b) you can rely on your investments to provide the additional income.
However, you may prefer to cover your nursing home costs with LTC insurance rather than being forced to liquidate low basis stock.
A similar need may motivate the purchase of disability insurance.