When Should I Buy Long-Term Health Care Insurance?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    A good time to buy Long Term Care insurance is before you have a serious health condition. LTC rates are based on health, especially the type of ailments that are more common among older people, such as crippling arthritis or stroke. Since the chances of one's health deteriorating greatly increases in one's 50's and 60's, it is a good idea to purchase Long Term Care Insurance in one's 50's, while you can lock in a good rate.
    Answered on May 29, 2013
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  2. 5877 POINTS
    Stan Cox II
    Insurance Adviser - Broker, SC Insurance Services, Oahu, Hawaii
    Stand alone long term care insurance policies can be very expensive and generally are not a fixed premium so may well go up over time. When you purchase long term care as a rider on a whole life policy you will get the lowest premium rate for it that is available. So really then the best time to buy long term insurance is when you're buying a whole life policy. If you already have a whole life policy without the LTC rider, you could either buy an additional policy or exchange your current policy for a new one and add the LTC rider.
    Answered on September 17, 2015
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