Approximately 70 percent of people over age 65 will require long-term care services at some point in their lives according to a 2014 Genworth study. And contrary to what many people believe, Medicare and private health insurance plans do not pay for the majority of long-term care services that most people need. Planning is essential in protecting your retirement assets for you and your spouse.  According to Health Day News (9/12/2007), life expectancy rates in the United States are at an all-time high.  Longevity risk is a multiplier for all other retirement risks such as income and asset depletion, medical costs, inflation, and yes – long-term care.  

The earlier in life that you plan for this protection, the more leverage you are able to utilize.  As your life expectancy shortens each birthday, you begin to lose that leverage little by little. Maximizing leverage involves three primary variables – medical well being, marital status, and age.  Healthier, younger persons are able to use fewer dollars to guarantee the same level of protection as older, less healthy folks.  Also, couples are now able to obtain a second-to-die life policy with accelerated LTC benefits which ultimately lowers the cost of coverage compared to two individual contracts.​