There are not many insurances with long term care, so I can imagine it is expensive. In NJ It is 8 to 12,000 a month, depending on the place. Most expensive ones will let you stay after you run out of resources and accept medicaid to pay the difference from your income and you are given 100 for needs since food and everything else is provided. It is often expensive having in home 24 hour care. I would have a trusted family member er get durable POA for if you ever lack capacity or have diminished capacity.Here they often say need one doctor to write you need their help.

I say this as often I am called to investigate financial exploitation when family could have prevented it if planned ahead. Or have someone monitor your account.

I just wonder if their is limit on what and how long they pay for long term care. Consider your health and resources and how long you could pay the difference if what you are spending would greatly add to your resources. Maybe he is right. I would want to know if his reasons would be mine.

Cash out and enjoy the money. Invest in your future, but do it by making your house safer, or whatever other projects need doing. Dont bet against your self by paying for things you can't use unless aomething bad happens.