One of the biggest threats we have to our overall financial security is that of a long-term care event. According to the Department of Health and Human Services, about 70% of Americans who reach age 65 will need long-term care at some point, and if it's a major event, the costs are usually significant.

While you're in your 50s and early 60s, it's important to consider coverage that could pay for the cost of a lengthy stay in a nursing facility or in-home care. It's typically better to lock in premiums while you're younger and in many cases, healthier.

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