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Back in 1972, “You can pay me now, or pay me later”, helped FRAM sell a ton of oil filters. That memorable phrase was usually uttered in FRAM’s television commercials by an auto mechanic, who explains to his customer that he can either pay a small sum now for the replacement of oil and filter or a far larger sum later for the replacement of the vehicle’s engine.

In my never-ending quest to help my fellow baby boomers live better, longer, it occurred to me that what FRAM was really selling was insurance, not oil filters. Who wouldn’t prefer to shell out the cost of a filter and five quarts of motor oil every few thousand miles, if it could prevent you from having to eat the cost of a new engine down the road.

Fast forward to 2018. Every day I see reports about the high cost of extended healthcare and the devastating impact it has on the lives and finances of millions of Americans. A recent cover story in Barron’s presents a well-researched report about the extent of the problem.

Yet millions of boomers, who change their oil on a regular basis, put off the purchase of the “filter” that can prevent them from having to pay for a very expensive new “engine”.

Sure, insurance costs a lot more than an oil change and filter, but the average long-term care event could mean the price of a new car every few months.

Think about it. If we are living longer – many of us will make it into our nineties – our chances of needing a “new engine” are quite high. So why are so many of us unwilling to see the value in paying for the “oil change and filter”?

Why not be prepared for your long road trip? Let’s have the conversation now.