long term care insurance vs disability insurance

[samuel77]

My question is a bit complex. I am in my late 50s, in good health and fitness, and I have DI that I have privately held since age 40. It has a 6 month waiting period, pays until age 65 irrespective of other sources, like SSI, and pays for partial employment in my field. It was not a level payment type, but has leveled out at $230 per month. A monthly payout, if I am disabled, would currently equal about two-thirds of my pre-tax income. In addition, I and my wife have substantial life insurance, savings, pensions, and have no children. We plan on retiring in 5 years.

My question has two parts and undoubtedly more detail will be needed. The first is whether I should consider switching from the DI policy to a long term care policy whose flat-level inflation-adjusted payment would be about $300-$325 per month. The LTC policy would be for a current payout of $200 (community care)/$100 daily (home care) for an unlimited amount. An unadjusted policy would be $100 per month.

The second part has only to do with the DI policy. Since 1) I currently have half a year of sick time, which can be followed by State SDI coverage, 2)I would probably be pensioned off before that, given my employer's recent practice, and 3) my wife can handle the house mortgage on her own, does it still make sense, given my current good health and fitness, to keep up the DI until retirement (in 5 yrs, though possibly until age 65).

The original insurance agent suggested that if I had enough savings, pension and SSI that maybe I did not need it, but he was not encouraging a change. The insurance company, NML, was not really forthcoming with my request for advice or more informative statistics than they and everyone else posts.

Can anyone help with this and/or point me to a better source of statistics and health probabilities? Do I need to go to some sort of consultant?