Ram Republic

In my opinion the best age to purchase an LTC policy is around fifty-four, although it can still be a bargain at any price if you’re older. Regardless of your age, if you carry an LTC policy and do have to go into a nursing home one day, you will almost certainly pay less for all your payments combined than you would for one year in that nursing home. And many people live in nursing homes much longer. The average length of stay is 2.9 years, 8.0 years if you have Alzheimer’s. And one out of three people above the age of sixty-five will spend some time in a nursing home.
I Song-term-care premiums are based on how old you are when OU purchase the policy and are projected to stay stable at that amount for the lifetime of the policy. Let’s say you are fiftytour, in great health, and purchase a policy. I know of a wonderful policy here in California, and other states are pretty comparable, for which you’d pay $954 each year for the premium. If you had waited until you were sixty-five to buy that policy, and again are in good health, the premium would cost $2,580. Big difference. And the premiums are projected to stay Ntable for the whole time you carry the policy. (These policies arc not like car insurance policies, where they can raise my neighbor’s rates if he happens to use his policy too much but not raise mine because I’ve never filed a claim. These LTC policies can raise the rates, which they have the right to do, only if there is an across-the-board increase for all those in the same state, region, or county who have this particular plan.)
It’s also true that the younger you are, the likelier you are to he in good health. These policies are not available to those with serious health problems, or else the cost is prohibitive.