When Should People Consider Long-Term Care Insurance?
There are plenty of moments in life when people begin to realize they have to think and act differently; grabbing that dream career job for the recent college graduate, buying a house for the first time, having children. When someone understands the value in planning ahead for some of these things, they know how vital it is to stay focused on the end goal.
Long-Term Insurance Premiums Rancho Bernando CA – When Should People Consider Long-Term Care Insurance?
While many people are planning and saving for retirement, they don’t often consider long-term care insurance. Sure, they pick up a life insurance policy, but everyone is mortal; we all understand that. We just don’t want to think we could need a home care aide or someone else helping us in our Golden Years.
So, when is the right time to consider long-term care insurance?
Well, it may not be practical to consider long-term care insurance when a person is in their 20’s or 30’s, but that doesn’t mean it’s a bad idea. An accident or some unexpected medical catastrophe could occur and suddenly place an enormous burden on a spouse or other family members to take care of him or her for a few months or even years and possibly the rest of their life.
The best time is when they are in their 40’s. When a person reaches 40, their health demands, expectations, and issues will begin to change. They may be required to go for a physical every other year and then ultimately increase that to every year to ensure they have the best support and care possible, and that is also the time range when long-term care insurance is most affordable.
What if they won’t need this type of insurance coverage for decades?
A lot can happen in a few short years, so people contemplating long-term care insurance when they are 45 or 50 may not feel it’s practical. However, if they wait until they’re 60, 65, or even 70, they may not be eligible to receive this type of insurance or the monthly premiums could be so high that it is not practical.
It’s like life insurance; everyone knows they won’t live forever and the longer they wait, the costlier the policy will be and that is not always economically feasible to everyone. If somebody has a family member or knows somebody who requires any type of long-term care, it’s a good reminder that the same thing could very well happen to them, no matter how healthy and in great physical condition they are at the moment.
If you or a loved-one are considering Long-Term Care Insurance Premiums in Rancho Bernando 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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