When Should You Purchase a Long-Term Care Insurance Policy?

A long-term care insurance policy can be a valuable investment. Although it’s difficult to imagine or even think about, one day you may need someone else’s help when it comes to your day-to-day care.

The thing is, such services aren’t cheap. In-home caregivers, nursing homes, assisted living facilities, hospice centers, and more can all cost a small fortune. Complicating matters is the fact that these are things you probably don’t want to go bargain-hunting for, either.

It’s an unfortunate fact of life that none of us really improves as we reach our elder years, which is why it’s fortunate that most long-term care insurance policies are comprehensive enough to cover the intensive care we may need later on.

When people are considering a long-term care insurance policy, the question on most of their minds is when they should purchase one. Chances are such a cost can’t be justified too early in life, especially when your finances are probably focused on affording student loans, childcare, mortgages, and other more pressing matters. Unless you have a very high income early or mid-way through your career, chances are affording a long-term care insurance policy is nowhere on your radar.

For many people, a good time to consider purchasing a policy is when retirement is about a decade away or coming right up – that typically translates to someone’s mid-50s to mid-60s. If you are otherwise in good health, purchasing a long-term care plan now means paying into the system for a decade or longer until it comes time to actually benefit from it.

Do You Need Help Finding a Long-Term Care Insurance Policy?

If you’re at a point in your life where you are planning your retirement and want to make sure your day-to-day care is covered in your elder years, reach out to Insurance Specialists, Inc. Our brokers are dedicated to helping clients find competitive rates for policies that match their needs and goals.

If you need assistance, contact us online or call (888) 451-0883.