Insurance Broker Discusses When to Buy Long Term Care Insurance
As an experienced certified Insurance Broker, I often get asked what the right age is to buy long term care insurance. There is no real right age to buy long term care insurance. Obviously, you want to gain the insurance coverage prior to benefits being needed.
It used to be said that the ideal age to purchase long term care insurance was in your late 50’s or even age 60, but by that time a person may have developed some sort of medical condition that would raise the premium or prevent the person from obtaining the insurance altogether. What we’re finding is that the average age of purchase for a long term care insurance policy in America has dropped to somewhere in the early to mid-40’s.
When is the right time to buy long term care insurance? Contact our experienced Insurance Broker for advice.