Buy long-term care insurance
It can be judicious to buy long-term care insurance for yourself as well as your spouse, but it’s not for everyone. In some cases, this is a waste of money. If either one of you develops a critical or chronic illness and ends up in a nursing home, your retirement corpus could be depleted in a few years or even a few months, depending on the seriousness of your condition and the level of care required. You can find a variety of life insurance policies that include provisions for disability, long-term care, and terminal illness.