There are real perks to getting older, like wisdom, experience and the pleasure of enjoying a life well-lived. However, as you enter your retirement years, new concerns arise. Often, these issues are oriented around your health and your care needs.

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It’s no secret that long-term care can be expensive, and the prospect of paying for it can be daunting. Long-term care insurance can help by covering some of the medical and support services that people with degenerative conditions, cognitive disorders or other long-term illnesses will need.

While long-term care insurance can cover everything from assisted living services at home, adult day service centers, nursing homes, memory care facilities, respite and hospice care, or assisted living facilities, there are still gaps in what it may cover.

You may wonder if the cost is worthwhile, especially if you’re healthy now. GOBankingRates investigated this issue by talking to a few experts.

Depends on Your Needs

As the founder of Prestizia Insurance, John Crist has helped a lot of people determine the best insurance plan to meet their needs, including long-term care insurance. He said that the amount of coverage you need depends on your situation.

Specifically, he encouraged you to evaluate the cost of care in your area, along with your assets while conducting an honest assessment of how long you’ll require care.

“If you have a sizable nest egg you want to protect or prefer higher-end care, get a policy that will adequately cover those costs,” he said. “Those with few assets or in poor health may find the premiums too expensive to benefit.”

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If You Think You Might Need It, Get It Early

Crist added that if you anticipate a future need for long-term care, the best time to buy insurance is usually when you’re in your 50s or early 60s, when premiums are more affordable. If you wait until you’re older, your costs may be significantly higher.

He said that for most clients, the peace of mind that comes with having a good long-term care policy in place can be worth the cost. “You never want to find yourself needing care with no way to pay for it,” he said.

Work With an Agent To Get the Best Prices

Working with a trusted agent to evaluate the policies that will help address your needs and maintain your budget is essential to finding long-term care insurance that has real value.