What Is Long Term Care Insurance (LTCI) and Why Do I Need It? Many financial planners agree today that the high cost of long term care is the most serious risk to the security of senior Americans. Long term care is defined as sub-acute care that is required because an individual has a prolonged illness or injury and needs help from others in order to live. One may need assistance in order to perform two or more activities of daily living (bathing, continence, dressing, eating, toileting or transferring), and/or one may need supervision due to cognitive impairment. We have been blessed by an increasing average life span, due to advances in medical science. We are living almost twice as long as our ancestors did only 100 years ago. But with this blessing comes the drawback that the longer