You need to begin your search on long term care insurance no later than age 50. You should be purchasing long term care insurance no later than age 60. These are just rules of thumb. But the sooner the later based on health deterioration as you become older and the premium becomes larger.
You need long term care insurance when:
1) You have substantial assets you want to protect, and insufficient income to pay for your own long term care expenses without depleting them;
2) You have enough income to comfortably pay for long term care insurance premiums and want to provide peace of mind for you and your family for your future;
3) You want to live in a specific place to receive your care and may not be able to do so without being able to pay privately (with the funds that long term care insurance provides); and/or
4) You want to hire a relative to live with you to provide your care if you become unable to care for yourself, and probably would not have the money to do so without long term care benefits.
The best age for buying long term care insurance, in my opinion, is between 50-60 years old.
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1) You have substantial assets you want to protect, and insufficient income to pay for your own long term care expenses without depleting them;
2) You have enough income to comfortably pay for long term care insurance premiums and want to provide peace of mind for you and your family for your future;
3) You want to live in a specific place to receive your care and may not be able to do so without being able to pay privately (with the funds that long term care insurance provides); and/or
4) You want to hire a relative to live with you to provide your care if you become unable to care for yourself, and probably would not have the money to do so without long term care benefits.
The best age for buying long term care insurance, in my opinion, is between 50-60 years old.