As most adviser and expert would say, when it comes to long-term care insurance, “Do not wait too long”. Waiting too long can have many negative effects on your application and your future as well. Your long-term care insurance premiums are much cheaper when you buy it while you’re young and healthy, there is lesser chance of being declined because as you age, your health declines as well, so if you wait too long, you might have develop a condition that will disqualify you from getting long-term care insurance. And if it is already too late for you to get one, how are you going to manage your finances once the need for care arises? A long-term care event can deplete even an ample amount of savings. As a result, you might not be able to get the quality care you need and want if you no longer have the funds to cover your long-term care expenses. Shop for long-term care insurance quotes from different companies so you have the options to compare and choose the best policy.
Why should a person buy LTC insurance at age 50, when they may not need care (typically) until age 80? Why pay premiums all those years? Who wants to spend money for 30 years of premiums.
Seems like a logical viewpoint, why start paying premiums now when it could be 30 years before you might need care. As long as you stay healthy it’s a valid viewpoint. If only you could guarantee that!
If you were 24 years old, with a Camaro or other expensive to insure car, and knew that the car insurance would be much less after your 25th birthday, would you wait? It will only be a few months……..
HEALTH CAN CHANGE
Did you know that 40% of the people receiving LTC services in this country are between 18 and 64? Many people go to the doctor every year for a check up and stay in good health, until the checkup where the doctor tells you…
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