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There is no "right age" to buy long-term care insurance. That is factual. However, there are specific times when it may make a financially sound decision to consider purchasing a policy.
For example, in your younger ages, the rates, as you may expect, is lower. Depending on your personal financial situation, this may be an ideal time to buy a policy. Each contract is different with many optional provisions.
A full-time adviser is your best resource for information to this question. They not only are your primary source of information, they can shop the top carriers and plans so you get the best pricing. The number of companies that offer plans has reduced, so using a broker is more critical than ever.
There are schools of thought that purchasing long term care insurance (LTCi) early on when you’re healthy is the ideal time to buy LTCi. But other tributaries of thought say you should start seriously considering LTCi no later than age 50.
The LTCi market of insurance companies has decreased considerably. There are about six real players left in the brokerage community. The price tag generally drives the LTCi sales, but policy definitions should be the deciding factor when premiums are relatively equal.
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For example, in your younger ages, the rates, as you may expect, is lower. Depending on your personal financial situation, this may be an ideal time to buy a policy. Each contract is different with many optional provisions.
A full-time adviser is your best resource for information to this question. They not only are your primary source of information, they can shop the top carriers and plans so you get the best pricing. The number of companies that offer plans has reduced, so using a broker is more critical than ever.
The LTCi market of insurance companies has decreased considerably. There are about six real players left in the brokerage community. The price tag generally drives the LTCi sales, but policy definitions should be the deciding factor when premiums are relatively equal.