What Happens If You Don'T Have Long Term Care Insurance? 
Private long term care insurance protects your income and financial assets from being decimated as a result of long term care expenses . If you do not have this coverage , which shifts the risk to the insurance company , you retain the risk . In the event you need assistance with at least two of six of the activities of daily living , the costs can add up . Whether at home , in an assisted living facility or nursing home , the costs for care can easily exceed $ 250 per day with average stays of 3 years or more . 