If possible everyone over 50 should have it but there are a few other things people should have. When they have children at home they should have at least some Term Life Insurance. If people are able to save for retirement even at $100 per month they should do so starting at day one of their working lives and don't touch it until at least age 60. Persons should also have an emergency fund equivalent to 8 months of their income.
Our country's financial health is hard to predict but those are the basics.
I'm mailing my quarterly LTC premium Monday. Costs a bundle, but after being the primary caregiver/ for 3 elderly relatives, for a period of 15 years, who had enough resources to handle their years of need, I saw what was likely to be required.
Also got term and whole life, carefully crafted. Wish I had saved more, but ...