As we age, the likelihood that we will need long-term care services at home or in a facility increases greatly. Long-term care insurance will pay some or all of the costs of this care. Given the high costs of these services, why don’t more people buy insurance that pays for them? They often don’t act because they make mistakes like the following. You want to avoid them, right? Keep reading!

Mistake 1 – Procrastination. Neither you nor I like to think of a time in the future when we cannot independently meet our needs. The very idea is at least disturbing. It could even be terrifying.

You can feel good and healthy now. You may find it difficult to think about a future when you are fragile.

What to do instead – Look at the numbers: The National Long-Term Care Information Clearinghouse says that more than 70% of all 65-year-olds will need some form of long-term care services during their lifetime.

The Oregon Division of Insurance has reported that in 2007 a year in a private room in a nursing home cost about $76,000 in Portland and $71,000 in the rest of the state. Home health aide services cost about $31 per hour in the Portland area and $46 in the rest of Oregon. Those numbers are 8 years old. They are certainly much taller now.

Want to bet you won’t need these services? If you lose the bet, it will cost you.

Mistake 2 – Worrying about the cost. Yes, long-term care insurance is expensive. After thinking about your cost of living and setting aside an emergency fund, you may not be able to pay your premiums.

But if you can afford the premiums and want to buy a policy, waiting is another gamble. Insurance companies take a close look at your health before issuing a long-term care insurance policy. If you wait too long, an unexpected health problem may prevent you from buying any policy.

What to do instead – Determine if you could afford a policy and if you want to buy one. Visit an insurance advisor.

Your advisor can review your financial situation with you. It can also recommend a policy or policies that best suit your financial circumstances and meet your specific needs.

Mistake 3 – Not consulting an insurance advisor. You’ve probably read that insurance salespeople only care about selling their policies to earn a commission. This may have made you hesitant to consult an advisor.

That may be true for some advisers. After all, bad apples exist in all occupations. It is not true for all of them.

You need an advisor to help you review your financial situation. More importantly, a consultant can tell you what products are available to meet your specific needs. She can also allow you to understand why this is so.

What to do instead – Meet with an insurance advisor after you’ve done your basic research on the Internet. Realize that you are the person who decides how that meeting proceeds. Come with a set of questions prepared.

If the answers are not satisfactory or if some other aspect of the meeting does not meet your expectations, find a new advisor.