When to Buy Long Term Health Care Insurance

Long term health care insurance becomes more expensive as you age. While the investment may be less when you are young many pre-retirees simply don’t feel the need to invest in another insurance policy. But remember, if you’ve been reading my articles this really should be called “retirement insurance“. The #1 reason couples get wiped out financially is health care costs!
Long-term care insurance premiums are based on your age and the condition of your health when you purchase a policy. Below is an example of premiums – but this is only an example. Many companies offer incentives, spousal discounts, health discounts etc. that are not taken into account in this example.

At best, these are averages and in all likelihood will not apply to your situation. Also, these include a 4-year benefit period at $150 a day. (As a side-note the average long term care need is right around 3 years – and usually less for men. This does not however account for Alzheimer’s or brain illness needs.) �

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This entry was posted on Monday, June 8th, 2009 at 7:07 pm and is filed under Health care insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.