1. 4330 POINTS
    Jerry Vanderzanden, CLU, ChFC
    Co-Founder, Coastal Financial Partners Group, California
    You should consider long term care insurance early in life. The average age of purchase used to be in the high 60s but has been steadily dropping as people realize the importance of buying early while the rates are low and while still insurable. At older ages, people are not always acceptable risks for insurance companies due to medical history. Seek out the assistance of licensed insurance professional with long term care experience.
    Answered on May 15, 2013
  2. 3998 POINTS
    Matt Benore
    Founder, DenverWest Insurance Professionals, Inc.,
    This is a bit more complicated than just considering when you should purchase LTC. Sure, the younger you are the less expensive it will be. Many companies are getting out of the business due to reserve requirements along with claim history.  The question I tell people to consider is how to get the protection you need while getting the most value from the premium you are looking at spending.

    Example:  Did you know that you could have Critical & Chronic Illness protection within your term life insurance or permanent policy?  Consider, you get the death benefit of course when you die but what happens leading up to this...  you are surviving a medical event that could financially devistate your family.  Where will you get the funds to support the family, medical expenses, etc.?  How about from your Life Insurance policy.

    Instead of just getting one benefit, you can have access to 3..... Now that is what I call value.
    Please note that you accelerating the death benefit so when you die, the death benefit may be reduced.
    With some planning you can make sure you have the strategies to protect your family and their financial future.

    Long-Term care insurance is something that everyone is going to need sometime in their future.  And there are several ways to get the protection you need.  Be sure to look at all the options before signing up for any policy.
    Answered on May 15, 2013
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