Long Term Care insurance is not an easy subject to talk about. Nobody wants to think that they or someone they love - might need it one day.

But it is estimated that a person 65 years or older has a 43% chance of eventually needing care in a nursing home. The average cost of a year in a nursing home is around $75,000. What's more, it is estimated that seven in ten people over age 65 will use home care.

Not too long ago, elderly relatives were cared for by family members. But today, many families are scattered throughout the country, making it difficult for families to look after aging parents.

Long Term Care benefits from Medicare are very limited. And to qualify for Medicaid, you must first spend down to the poverty level. So unless you can afford to use your life savings to pay for Long Term Care, what is your alternative?