Some people start shopping for long-term care insurance (LTCI) early-on because they know the value. Some people experience a long-term care (LTC) event with a loved one and suddenly understand the importance of a policy. Others go through a change in health or a landmark birthday and realize the urgency in applying for LTCI sooner rather than later. When you start planning for your retirement, and your LTC needs, don’t panic. Ideally, we’d buy insurance the day before we needed it, with the goal being to pay the least amount in premiums and to receive the most back in benefits. At LTC Consumer we understand that goal, and our specialists work with you to figure out the best time, and the best product, for your needs.
Am I Too Old?
The younger you are when you purchase LTCI, the less your premiums will be. However, you won’t need your benefits for awhile, so you’ll pay for a longer time. People always want to know at what age they should purchase, and the answer is that it varies. Generally speaking, the younger you are, the healthier you are. But you have to take into consideration your current health, your family history, and how much you’re willing to risk that you remain healthy until you’re older. In 2018 the most common age to purchase LTCI was between 60 and 64, but that number goes down every year.
“You have to take into consideration your current health, your family history, and how much you’re willing to risk that you remain healthy until you’re older.”
Our specialists currently have seven insurance carriers they commonly work with to provide the best solutions for their clients. Each carrier has a maximum age to which they will sell their product.
- Aetna – 89
- Lincoln Financial – 79
- Mutual of Omaha – 79
- National Guardian Life – 79
- Nationwide – 70
- OneAmerica – State Life – 85
- Transamerica – 79
LTC Consumer is constantly researching and making sure they have the best insurance carriers and LTCI products available to you and your loved ones.
Am I Healthy Enough?
Sometimes it takes a health scare to make us understand we aren’t invincible. We realize we may require assistance one day and we research in a panic. LTCI companies do take your health history into account. So you’ll want to apply before experiencing a major health crisis. We compare it to trying to buy homeowner’s insurance when your house is on fire.
However, many health issues are still insurable. Sometimes a carrier will require a waiting period to make sure you’re now stable. Often one carrier will accept a diagnosis that another won’t. Speaking to one of our specialists will be extremely helpful in determining eligibility. They’ve been doing this a long time, it’s all they do, they are experts. Customers who have worked with our team say the process is educational, no-pressure, and easy.
Resources for pre-existing conditions:
- How to Qualify for Long Term Care Insurance
- Long Term Care Insurance with Pre-Existing Conditions
- Can I qualify for LTC Insurance if I Have Diabetes?
- Can I get LTC if I’ve had a stroke?
- Can I get LTCI if I’ve had Cancer?
Am I Too Late?
Whether you are younger or older, healthier or experiencing an issue, on a budget or protecting significant assets, our LTCI Specialists will work with you to create a plan that fits your needs. They will research, run quotes, and speak to insurance carrier underwriters. No question will be left unanswered, no concern left unaddressed. Request a free quote today, and find out if LTCI is something you should consider.
“Whether you are younger or older, healthier or experiencing an issue, on a budget or protecting significant assets, our LTCI Specialists will work with you to create a plan that fits your needs.”
LTC Consumer is an independent, free online service to help consumers understand what long term care insurance is, how it works, and how to evaluate coverage options. Our mission is to provide an educational, no-pressure resource for learning about long term care planning, with the opportunity to speak with specialists who can help them.