This is the scenario: you have worked and saved money all your life in order to enjoy your golden years. Then, after about fifteen years of happy retirement, your retirement fund has been depleted and you find yourself in need of assisted living services. Something you didn’t save or for which you didn’t prepare. Nationwide, the average cost of a senior care facility is $3,500 per month. A ten-year stay would cost you over $400,000! The savings you so diligently guarded your entire life are torn and shuffled in an instant.

It can get worse. If you are married and you or your spouse need a care facility, the other spouse will likely be left with nothing to live on. A terrifying scenario played out all too often. Of course, you want to be able to enjoy your retirement, but if circumstances call for long-term care, you at least want your investments to outlive you and care for your family.

So what should I do?

The best way to protect yourself, your partner, and your assets from incredibly high costs is to have the right insurance plan. Starting at age 60, you should consider purchasing assisted living insurance. Before age 60, the chances of needing living assistance are extremely low, but each year after age 60 the odds increase. And with each year, the price of insurance also goes up. So plan ahead and add long-term care to your insurance plan. So whatever the cost your health insurance or government assistance won’t cover, your long-term care will and your retirement investments needn’t be affected.

Shop for the best insurance premiums. Compare prices and coverage plans. Think of it the same as buying car insurance. Which company offers the best coverage at the lowest price? You want to seriously consider them. And while you’re less likely to go to assisted living at age 60, by buying insurance earlier, you can get a lower premium.

The important thing to remember is that your golden years should be focused on quality of life. Prepare for the worst so you can enjoy any scenario without worry. Being financially prepared to cover these costs, rather than letting the burden fall on loved ones, is a wise decision. Love yourself and your family when planning for the possibility of assisted living.