By Sean Grogan, contributing writer

When you have worked hard all your life and now become a half a millionaire think twice before you put your grandfather in a board and care home. That decision may put a large dent in your wallet.

You may not have the $80,000 per year to afford the board and care your grandfather needs.

There are not many alternatives to how or where grandfather is going to get care. The care he most likely will acquire is bottom-of-the-pit care. If you want private care for your grandfather, be willing to say goodbye to most of your paycheck.

Unfortunately, many have had to make a decision based on selling their grandfather's -- of even their own -- home to cover all expenses until they run out.

So, do you think that you can lay to rest this decision because some health insurance plans sell extended care coverage for a nursing home?

That would save you millions or thousands of dollars rather than leave you empty-handed.

Some older folks may say no to something like this because no one ever knows how sick one may end up being.

But think ahead of all the possibilities that can happen when you do not have insurance for the board and care. It will definitely have an effect on you and your family.

Personally, I would rather buy extended care just in case you run out of ideas or solutions on how to take care of your grandmother or grandfather.

Also think of it this way: If the situation was reversed and happening to you, your grandparent probably would purchase extended coverage for you.

Purchasing an extended plan does not sound too bad after all now, does it?

You save your money while you keep your job and your grandfather gets to be looked after by a nurse all day long. Everything would be covered and you would also keep the home that you use to live in as a kid. Your spouse would just relax knowing that you really do think ahead and things are taken care of.

Congratulate yourselves for taking time to read this because now you know what you can do. Call a health insurance company or if you already have a health insurance company, ask them" Do you sell extended care coverage for seniors?"

If they say yes, then you can purchase the product at a low price rather than "paying the price" as they say.

Think now or forever hold your peace.