The benefits of long term care insurance

In a recent WSJ article, researchers Olivia Mitchell and Daniel Gottlieb report findings on their recent study regarding long term care insurance.  An estimated 70% of people will need such care, which will be costly. And second, most people refuse to buy insurance to cover it.  The question is, why?  The researchers suggest that consumers are looking at long-term-care policies as investments, rather than financial protection.  Further, insurers may be missing opportunities to tweak their products in ways that might address and overcome some of the root causes of those misunderstandings.