When is the Best Time to Get Long-Term Care Insurance?

So often I get inquiries from people wanting long-term care insurance for their ailing parent. This inquiry is usually coming to me when the parent is already in need of care. it is at a time when the parent's health prevents them from applying for Long-Term Care insurance.

The child who is now becoming the caregiver for his/her parent (Sandwich Generation) while still taking care of his/her own family acknowledges that the parent should have looked into Long-Term care insurance years ago.

This is when the light goes on and they begin to inquire whether or not it is too early for them to look at long term care planning. They admit they should have had conversations with their parents about money and healthcare long before the crisis occurred. Now, they want to prevent this from happening within their own immediate family.

So when is the best time for one to get Long-Term Care insurance?

Long-term care insurance is a product that catches the attention of seniors, but the ideal time to buy it is actually when you’re in your early 50s and in good health. At that point, premium costs are lower, and you’re less likely to have a pre-existing condition that disqualifies you.

The need for Long-Term care can occur at any time of life. It is important to consult with a Long-Term care Specialist when designing a long-term care plan. An independent agent will help you find the company that is best suited for your situation.

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