I am 66, 11 years older than my wife and several major problems. Keeping my program as long as I can afford it.
Dave Ramsey has run the numbers several times on air. His analysis has shown that you MUST buy it on your 60th birthday, but not before that. Statistically speaking, it is a very slight chance that you would need it before 60, but it is almost gauranteed that you will need it sometime after retirement. The most beneficial time to buy it and maximize the cost / benefit analysis is at the age of 60.
You can do a search on daveramsey.com and find his analysis...
All depends on how much it costs. If it’s an amount of money that means nothing to you sure, if it has meaning then you need to consider your health and lifestyle and how likely are you to need it. At my company long term is like $5 a month, the whole year’s worth wouldn’t even buy me a good bottle of scotch, so it’s meaningless money, so I do it.