Terry McBride: Long-term care costs

Life expectancy continues to increase. The big question is: how many years can a person be expected to live in good health? Statistics Canada’s estimate of health-adjusted life expectancy at birth is 69 years for men and 71 for women.
That means the average Canadian can expect to live roughly 10.5 years with some chronic condition or disability for which he or she may need assistance.
How would you pay for long-term care?
 
Buy insurance
One option is to buy long-term care insurance.