When Is It Too Late For Long Term Care Insurance?

  1. 1305 POINTS
    Neil Steinman
    Owner, Orange County Health & Life Insurance,
    In my opinion, it's never too late. The average age that people buy is 57. However, even if the price is high, get as much coverage as you can afford. You buy a maximum dollar amount per day. So if you can't afford to buy (for example) $165/day, then buy $80/day. Remember, most Long Term Care claims aren't for nursing homes - they are for care you receive in YOUR home. In other words, you may hire a service to come to your home 3-4 hours/day to cook meals, do laundry, etc. And that may only cost $80/day...
    Answered on June 7, 2013
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