By Henri D. Kahn

Most people relate old age to wrinkles, being a little sluggish, minor aches and pains, taking a pill or two twice a day for a bothersome old age affliction. This destiny of old age is believed by a majority of Americans.

Most of us, 76 percent according to a recent Gallup poll, believe that we will never have the need for nursing home care, or the services of an assisted living program.

"I will never need long term care." Right? Wrong!

The truth is that two out of every five people will need nursing home care at some point in their lives.

Visit any nursing home in Laredo to find out how many of the residents ever imagined they would become so dependent on others to survive.

One of my sisters was in a nursing home for a couple of years, and I saw how great it was to have a place where you are cared for. I spoke to relatives of some of the residents who were absolutely strapped financially due to the nursing home expense.

"She's my mother and I'll work day and night to keep her in a nice place."

"I'll eat beans and tortillas to keep this man I have loved ever since I can remember properly cared for."

Statistics indicate that the baby boomer generation will cause an anticipated five-fold increase in the proportion of the population age 85 and older during the next 30 years. Old age, unfortunately, brings on the propensity for dependency on others when it becomes difficult to move around, feed oneself, go to the bathroom, dress ourselves.

"Medicare pays all the expenses in a nursing home." Right? Wrong!

If you were confined to a hospital for at least three days and entered a Medicare approved skilled nursing facility, aka a nursing home, within 30 days after leaving the hospital, Medicare pays 100 percent of the bill for the first 20 days and all but $99 for the next 100 days. Beginning with the 101st day you and your family pay the bill that will cost over $30,000 per year. Believe me when I say -- confinement in a long-term care facility will put a severe strain not only on you and your spouse's financial resources but can also hurt your children financially as well.

Fortunately, there is a way that you can avoid the financial tragedy brought on by a lengthy stay in a skilled nursing facility. Investigate the benefits and cost of a long term care insurance policy.

A 65-year-old person will pay around a $200 to $250 monthly premium for a decent long-term care plan. The premium will be less for a younger person.

If you have accumulated any assets during your lifetime, protect those assets from a 40% possibility of loss with the purchase of long-term care insurance.