Long term care insurance is a morbidity product that is underwritten on the basis on medical and behavioral information. Medical information is based on your gender, age, smoking status, health history and current medical condition. Behavioral information is based on motor vehicle records, vocational and recreational hazards.
Most advisers begin addressing long term care insurance with the clients around age 50. But the buying public tends to purchase long term care insurance around age 60. A couple of considerations here: You want to buy long term care when your healthy an relatively young to afford the premiums. But even if you’re healthy, what’s the predisposition of your family regarding assisted living and nursing home confinement? If there’s negative health history, then buying long term care earlier may be more prudent.
.JPG){kind=avatar}
Most advisers begin addressing long term care insurance with the clients around age 50. But the buying public tends to purchase long term care insurance around age 60. A couple of considerations here: You want to buy long term care when your healthy an relatively young to afford the premiums. But even if you’re healthy, what’s the predisposition of your family regarding assisted living and nursing home confinement? If there’s negative health history, then buying long term care earlier may be more prudent.