All About Long Term Care - a guide to help you select the best long term care policy.
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Should I consider buying Long Term Care Insurance at age 50?

Most research indicates that age 50 is probably an optimum age to purchase a long term care insurance policy. But as long you're thinking about long term care and when to buy long term care insurance, take into consideration your overall assets. This should help you to decide when to buy long term care insurance.

  • Generally, people with less than about $250,000 in net assets will quickly exhaust those assets when funding their own long term care before they qualify for Medicaid.
  • People with more than about $1.0 to $1.5 million in assets can usually invest their own proceeds to fund their long term care. (Your liquid assets are the key here. If the majority of your assets are your house and you don't want to sell it, then this won't hold true.)

When you do decide to buy coverage, make sure you get a policy that's flexible enough to cover your at-home care as well as care in a nursing home. You may also consider the option of a deductible or elimination period. This option allows you to share the risk by paying the first 90/100 days yourself while saving 20 - 30 percent in premiums.
Another tip: Make sure your policy is inflation-protected with a special rider to offset the rising costs of long-term care.

For more information about long term care insurance please visit out main site and while you're there, request a free quote for your long term care insurance coverage.

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