Long-term care insurance could be one of the most valuable tools for protecting your financial assets in retirement.

For seniors with failing health, chronic disease, mental illness, or disability, the cost of healthcare during retirement can be devastating. The cost of professional care can quickly drain a lifetime of savings, even going so far as to bankrupt some seniors. Long-term care insurance helps cover the cost of assistance without depleting your assets.

The cost of long term care insurance is based on your age when you purchase your policy. That means the younger you are, the less expensive your premium will be.