Today, most Canadians can expect to celebrate their 8Oth birthday.

That's wonderful news! It's also a vital reason why we should start planning now for a comfortable tomorrow. Here's why:

• Studies show that almost half of today's population over age 65 will need some form of long term care.
• Government Health Insurance Plans will be forced to deal with a growing elderly population. According to Health Canada research, seniors (65 years and over) constitute the fastest growing population group in Canada. As the 'Baby Boomers' age, the seniors' population is expected to reach 6.7 million in 2021.
• Currently, almost half of Canadian workers have eldercare responsibilities that impact on time and financial resources

 It's time each of us took the important steps necessary to protect ourselves.

Thanks to our healthier lifestyles and medical innovation, we can all look forward to enjoying longer lives. However, as a result of living longer, studies show that nearly half the population over age 65 will need some form of long term care. This care includes on-going support from medical professionals, like nurses, aids for household services, and professional caregivers. It can be provided in a long term care facility or in your own home. Either way, long term care costs can be expensive.

Take a look at some of the typical expenses long term care patients face today:

• Depending on their province, Canadians can spend up to $4,770 a month out of their own pocket for facility care that's subsidized by government programs.
• The cost for private, non-subsidized retirement homes ranges from $2,500 to $7,000 per month.
• Even if you choose to remain at home when getting the care you need, you'll still have to pay for private nursing, and for services such as shopping, cooking and cleaning:

• Registered Nurse or auxiliary nurse: $30 to $38/hour
• Medical services aid: $14 to $19/hour
• Personal Support Worker (cooking, shopping, housekeeping, etc.) $19.50/hour

As Canadians, we're fortunate to have a fairly comprehensive health care system. However, it simply cannot provide all the options and flexibility you may want if you are facing a long term care situation.
The result? Many of us may be forced to draw on retirement savings and family assets to help pay the substantial cost of what could be years of long term care. Fortunately, there is a way you can protect your assets and your lifestyle.

THE SOLUTION: Long Term Care Insurance
Long Term Care protection helps preserve your lifetime of accumulated savings and assets, your family's lifestyle and their financial security. Most importantly, it gives you options, so that you can make decisions about personal care that are best for your particular needs. It allows you to:

• Select care in the setting that is most convenient and suitable for your needs, or receive professional attention in your own home, if you prefer.
• Pay for out-of-pocket medical expenses that may be partially subsidized by provincial health plans.

Long Term Care Insurance provides a daily benefit for care in private and government facilities, or even at home. There are many plans to choose from, and it's easy to qualify. You can choose a benefit amount from $10 to $300 a day, and you can elect to have benefits paid for one, two, five years, or for life; whether you choose facility care only, or add home care coverage. It's entirely up to you and your budget.

Optional Benefits Include:

• Return of Premium, which returns the sum of all annual premiums paid without interest for facility care, your annual policy fee and the premiums paid for the Return of Premium benefit at death, if no facility benefit has been paid.
• Future Purchase Option, which allows you to purchase additional coverage without medical evidence; and
• Cost Of Living Adjustment benefit, which increases your daily benefit to a maximum of 4%, according to the increase in the cost of living, as recorded by the Consumer Price Index (CPI).