I know at my age (29 if you wanted to know) I am constantly hounded by life insurance agents.  They want to sell me a policy and love to come by each year to sell me more.  I find it kind of funny that at my age you are betting against your own life - if you die, someone "wins" your insurance policy - it is kind of weird if you ask me…

So, if it makes sense to bet on your death, you should probably bet on your bad health.  Now, this seems kind of weird, but a Long Term Care Insurance blog I was reading recently stated that over 70% can expect to need extended health care in our lifetime.  The catch is most of us will need the care when we are retired and have only our savings to sustain us - which at the prices they charge for the extended care, most of us will be in trouble.

I mean big financial trouble.  Consider on the low side, with minimal home care, you can expect to spend over $25,000 per year in today’s dollars - it doesn’t take too long to spend that money you have been saving all your life.  People are also living longer, so once you do need the extended care, most people can expect to need it for many years - putting you under more financial duress.

Based on the statistics I shared above, it is a pretty safe bet that you will need some extended care and you should protect your finances.  You can purchase a Long Term Care Insurance policy that will pay for your extended health care, releasing the financial burden from your finances and family.

Just be sure to take a look at your options sooner as opposed to later - once you need the long term care it will be too late.