When Should You Get Long Term Care Insurance?
By admin on May 2, 2008 in Care
At what age should you consider getting long term care insurance?
Many experts recommend a long term care policy anytime after age 50.
Waiting past age 65 may create difficulties because your premiums will be higher and you may not be able to pass the medical requirements.
However, long term care insurance policies can be especially useful for many seniors who want to stay in their own homes, although many policies can be used in nursing homes too.
See Consumer Reports’ Do You Need Long-Term-Care Insurance?
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Tags: Care, age for getting long term care insurance, how to find the right long term care insurance, long term care insurance
1 Comment(s)
By LTC Connects on Aug 29, 2008 | Reply
Keep in mind long term care insurance rates go up the longer you wait, in some cases pretty significantly. For example, the monthly premium can go from $150 at the age of 50 to over $380 per month at the age of 70. Also, nearly 39% of those needing long term care are between the ages of 18-64. It’s never too late to get long term care insurance, but do your homework before buying anything!