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Why You Need (or Will Need) Long Term Care Insurance By: Larry Lane | Mar 5th 2010 - Thanks to new medical breakthroughs and new drugs, we as a population are living longer and more active lives. In 1900, the life expectancy of the average American was 47. Today, there are more survivors of cancers and diseases that were previously considered incurable. Depending on when you were born, you can expect to live to 76 to 91 years old.