Will There Come a Time When an Older Person Can No Longer Purchase Long-Term Care Insurance?
Just as with certain types of insurance, there may come a time when an individual is no longer eligible to purchase a particular policy. While some people will point to automobile insurance as an example that no matter how poor a person’s driving record is, no matter how many speeding tickets, accidents, or even DUIs a person receives, they can still get some level of insurance, there’s a significant difference between that and long-term care insurance, for example.
Long-Term Care Insurance Cost Del Mar CA – Will There Come a Time When an Older Person Can No Longer Purchase Long-Term Care Insurance?
Automobile insurance is a requirement by law.
If a person has a car or truck registered on the road, they are legally required to have automobile insurance. As a result, so long as a person still has their driver’s license intact, insurance companies must provide the option of insurance.
It may be incredibly expensive and that individual might have to take part in a pool where they pay some of the highest policy rates imaginable, but it’s still available.
That’s not the case with long-term care insurance.
A person is not required by law to carry life insurance, renter’s insurance, or long-term care insurance. These are policies that a person can choose either to have or ignore, at their own risk. As such, there can come a time when a person reaches a certain age or has certain health issues that could cause them to be denied a long-term care insurance policy.
After all, if a person is 70 years of age, they are at an increasingly greater risk of needing some type of long-term care before too long. That individual could live to 100 and never require long-term care, but the odds favor that he or she will require some type of assistance due to a medical emergency of some kind or simply their body getting weaker over time, before too long.
This doesn’t mean a seventy-year-old will not be able to get a long-term care insurance policy, but if it is available to him or her, it will likely cost a lot more as a monthly premium than for somebody who begins their policy in their 40’s, 50’s, or early 60’s.
What this means is the sooner a person looks for and secures a long-term care insurance policy, the better it’s going to be for them financially. In the event they require long-term care in the future, they won’t have to use up there entire life savings or retirement funds to pay for it before Medicare or Medicaid will cover the cost.
If you or a loved-one are considering Long-Term Care Insurance Cost in Del Mar CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.
I work with all the major insurance companies and my objective is to help my clients determine if long term care protection makes sense for them and if so, to help them shop the market to find the best company at the best rate
I specialize in Traditional Long Term Care Insurance as well as Hybrid Long Term Care Plans which are either a combination of Life Insurance and Long Term Care or an Annuity Plan with Long Term Care
I’ve been specializing exclusively in Long-Term Care Insurance Planning for over 21 years.
Steve was recognized as a 2003 Long Term Care Expert of the Year at The National Long Term Care Producers Summit
2006 was awarded Senior Market Advisor of the Year Finalist by Senior Market Advisor Magazine
National Speaker for Numerous Industry Meetings
Awarded Nations Top 10 Agent 8 times by the American Association of Long Term Care Insurance
Author of numerous published articles on long term care planning
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