With the increase of elderly individuals due to longer life expectancy, many retirees will no longer be able to rely on their social security pensions for daily living expenses. If you choose to rely on the social security trustees, who according the numbers crunched they do not see how social security benefits will be available to more than 70% of Americans by 2034, be my guest! Want a more for certain option?
Ask about combined Life+Long Term Care Insurance Options. Look at it this way: life insurance is a necessity; you're living irresponsibly without it. For a similar price, you could put aside money and accumulate some savings toward LTC so long as the benefits haven't been used...you know that's a oxymoron! You got to be around to reap the use of LTC, or in this case your beneficiaries will bless your memory.
Read some more about the importance about LTC and how it can leaven the burden off your children and sweeten those golden years.