According to recent statistics from the Alzheimer’s Association, the prevalence of Alzheimer’s is unfortunately on the rise in the United States as baby boomers age. Currently, Alzheimer’s is the 6th leading overall cause of death in the United States and the 5th leading cause of death for those aged 65 and older, killing more people than prostate cancer and breast cancer combined.

Alzheimer’s disease is also the most expensive condition in the nation. Although Medicare and Medicaid cover some of this cost, the total out-of-pocket spending for individuals with Alzheimer’s and other dementias is estimated at $36 billion annually.

As you consider planning for retirement and your old age, it’s important to keep in mind that you should hope for the best while preparing for the worst, such as these high, long-term health care costs like those faced by people with Alzheimer’s.

One option to consider is investing in a fixed indexed annuity—a tax-deferred product offered by life insurance companies that offer low risk, guaranteed income and protection for market ups and downs.

You can have additional peace of mind by purchasing an annuity with a nursing home or long-term care rider to access your annuity funds free of federal taxes if you need long-term care either at home or in a nursing facility. And if you don’t need long-term care or want to redeem your annuity for other purposes, you can still redeem it for its accumulated value when it matures.