Try: The biggest problem with long term care ltc insurance policies is the high cost of premiums and the refusal of some insurance companies to guarantee rates another problem with ltc insurance is that by the time many people purchase policies they are uninsurable due to health problems one solution is to purchase policies while at an earlier age when buying ltc insurance be sure to look at multiple insurance companies every company has its own underwriting criteria individuals also want to buy from a solid insurance company because many will not need coverage for a few decades and the company must still be in existence at that time the younger you purchase a policy the lower the premiums will be that being said most people do not consider ltc in their 40s however if you wait until you are in your 70s the premiums will be extremely high and you may be uninsurable due to health reasons the best time to purchase ltc is probably in your 50s and 60s before the premiums become unmanageable when determining the appropriate amount of ltc coverage consider your other financial obligations if you still have dependents or a spouse this could alter your needs but if you do not have dependents or they are on their own you may want to purchase more ltc insurances as opposed to more life insurance reference to estimate your potential long term health care costs visit medicare’s website at www medicare gov and follow the links to resource locater and long term care planning

Materials: n/a

Categories: Financial

Information: n/a

References: n/a

Keywords: n/a

*This information is listed as a Fact Sheet and is not explicitly medically licensed