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Discover why getting long-term care insurance in your 50s is crucial for securing good health and discounts. Learn about health qualifications, discounts, and premium increases based on your age. Lock in your rate now!
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The Best Age to Buy The Reason Important Facts to keep in mind
Younger Age = Good Health = Discounts! The “best” age to enroll in long-term care insurance is usually somewhere between age 50-60 or your mid 50’s. Lock in your good health today!
The Reason In contrast to the Affordable Health Care Act, long-term care insurance requires you to qualify from a health stand-point. Certain health issues can cause you to become uninsurable either temporarily or permanently – typically, our health changes as we get older, so securing coverage sooner than later increases your chances of qualifying and doing so at a better health rating.
Important Facts to Keep in Mind • Insurers offer discounts to applicants in good health • These discounts are locked in and you don’t lose them if your health changes later • The percentage of applicants who qualify for good health discounts declines as one ages • The percentage of applicants who are declined for health reasons increases as one ages • Premiums are based on your age when you apply • Cost increase on your birthday (for each year you don’t lock in your rate) by 2-4% in your 50’s but start to be 6-8% per year in your 60’s
