Over the next 20 years, the number of Americans age 65 and older is projected to double to 71 million, which is estimated to comprise 20% of the total US population. And thanks to advances in medical science, those surviving to the age of 65 can actuarially expect to live an average of 20 more years.
Statistics show that nearly 70% of people over 65 will require some form of long term care in their lifetime. According to the Federal Long Term Care Insurance Program, the national average cost of care in an assisted living facility is $41,124 per year; in a nursing home, that cost doubles to $82,855 per
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