Can anyone share their experience with long-term care insurance?

Beginning in 2000 my parents got In Home Long Term Health Care Insurance.

Over the years they paid $94,000 in premiums. Each.

My Dad was receiving benefits for 6 weeks before he passed away. Think about that. $94k .. received $3500 in benefits.

My Mo has been receiving benefits since Sept 1st. The policy max is 325,000 in lifetime pay out. At the daily max of $200 ... it will last just 4.5 years. Had they invested that money at a meager .05 percent...it would be $127,000 today...each. MOm would still have $124,000 of Dads ...and $127,000 of her own. Or.. $251,000.

BUT.. the rules to ever receive any benefit at all are very hard to comply with. If the elder cannot walk...nope..no benefit payments. Elder MUST meet these criteria. Cannot feed themself, cannot get in and out of bed themself, cannot shower themself, cannot toilet themself. BUT...this policy pays nothing for cost of in facility care. So..how far does $200 per day go when dealing with someone who basically must have 24/7 care?

No..invest the money. Do not ever touch it until you need it for your own care. Far, far better off