You may never need long-term care, but if you do, having a long-term care insurance policy can help protect your retirement assets from being drastically depleted over a short period of time.

Many long-term care policies pay most of the costs of expensive assisted-living care, whether in nursing homes, hospices or adult day-care facilities, and some policies will pay for in-home care as well. Coverage generally starts when you are no longer able to perform certain defined activities of daily living for yourself, such as eating, bathing or dressing.

Long-term care insurance is not for everyone. Generally speaking, a long-term care policy makes the most sense for those with retirement assets of between $100,000 and $2 million.

Most people need long-term care because of the effects of disease (such as Alzheimer's or a stroke), not old age. When considering purchasing a policy, look at your family's health history and ask yourself how likely it is that you may need long-term care.

Consulting with a Financial Advisor can help you decide whether long-term care insurance is right for you and your family.

(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).