One of the admonishments that people who understand long-term care insurance give to people in their 40’s and 50’s is to look into it as soon as possible. That’s because not only can the cost of the long-term care insurance premiums for a policy increase with age and physical or health related challenges, but there may come a time when an individual will no longer qualify.
The sweet spot, as the industry experts will state, for a long-term care insurance policy is in your early to mid 50’s. That’s when the policy is most affordable and there is the greatest chance you may require some type of long-term care in the relative future.
Now, what if somebody decided not to get long-term care insurance while they were in their 50’s? What if they are now moving into their 60’s and are starting to face increasing risks of health issues and other challenges?
Can they still get a policy?
They could very well still qualify. But, there’s no guarantee. Of course, there’s no guarantee a person can qualify for long-term care insurance policy when they are in their 40’s or 50’s, either. There are a lot of factors that go into determining eligibility for certain insurance policies such as this.
One of those involves a person’s own health. If an individual is a lifelong smoker, drinks heavily, has other bad habits, is overweight, and so forth, that might limit their options or increase the policy cost of long-term care insurance premiums.
On the other hand, even if a person is completely healthy, eats kale regularly, drinks only water, but they have a serious family history of health issues like Alzheimer’s or heart disease, they may find the older they are the less likely they might qualify for long-term care insurance. Genetics matters.
The most important thing here is to understand not to make assumptions about long-term care insurance policy either because of your family history, your health history, or even your age. It is best to look into one of these policies as soon as you can, but even if you are in your early to mid 60’s, you may still qualify for one.
Value of paying long-term care insurance premiums.
A long-term care insurance policy could potentially save your financial life in the event of a serious medical emergency or injuries or even surgery that requires you to undergo long-term care. The cost of long-term care is increasing so insurance premiums of the policy for this is a great idea, regardless of your age.
If you or a loved-one are considering Long-Term Care Insurance Premiums in Rancho Bernardo CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.
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