Many factors go into the decision as to when to purchase Long-Term Care Insurance. Generally, the best time to pull the trigger is before retirement, when you still enjoy reasonably good health and premiums are still very affordable.
Today, most consumers are purchasing policies in their 50s. By the time to reach age 45, you should be very focused on your future retirement. As you get into your 50s, many people start seeing changes in their health and body. The 50s is when you start getting diagnosed with high blood pressure, and you start gaining more weight and notice changes in your joints.
Premiums Based on Age and Health When You Apply
Premiums for Long-Term Care Insurance are based on several factors, including your age, health, and family history. As you get older, your parents get older. Many companies consider some family history as part of underwriting.
While purchasing younger means you will be paying the premium longer; you will always pay LESS over your life when you buy younger. You should consider your budget but keep in mind Long-Term Care Insurance is a vital part of your overall retirement plan.
LTC Insurance is Custom Designed to Fit Budget and Need
Policies are custom designed so that you can design an affordable plan with the help of a qualified Long-Term Care Insurance specialist. Even a small policy can have a considerable impact. In 45 states, Partnership Long-Term Care Insurance offers you additional dollar-for-dollar asset protection.
Remember, it is your good health that allows you to plan for the future costs and burdens of aging. Your health can change without notice. Start planning when you have the most available and affordable options.