Late 30’s, 40’s, 50’s, or 60’s?
Most companies will not sell it to anyone under age 50. A good way to go, if you can, is to purchase a policy with a 10 year payment option during the last 10 years before retirement. Have it paid up before retirement while you’re still working and income is higher. It also protects you against future rate increases. Talk to a number of professionals as there are many plans out there with numerous options and be sure to read “Insiders Secrets“.
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We are considering it and we are in our late 30's.
References :
Most companies will not sell it to anyone under age 50. I advise my clients to purchase it with a 10 year payment option over their last 10 years before retirement. Have it paid up before retirement while you're still working and income is higher. It also protects you against future rate increases. Talk to a number of professionals as there are many plans out there with numerous options.
References :
19 years in the business
I've been a financial planner for 9 years and I have yet to find a company that will not sell LTC insurance to someone under 50. Having said that, I recommend my clients begin considering purchasing coverage in their 50's, unless there is a strong family history that wouldsuggest purchasing the coverage at an earlier age in order to protect insurability.
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A person's 50's is the common yardstick for that type of insurance but you can purchase the coverage at almost any age. Deferring payments is also a good idea. The most important thing to do is get 4 or 5 quotes to compare to each other so you can see what various companies offer. I use this site.
References :
http://www.4all-insurancequotes.com