My father loved the game of golf. I learned from his tutelage, of the game, that if you over think the complexities of your swing you will "duff" the shot. Deciding on long term care is similar. Analysis of all the solution one can get loosed in the details. Afraid of making a mistake. Decide to do nothing.
There are many variables that determine the pricing of LTCi. I will discuss many of these features in detail in other postings.
Of the many factors that effect the availability and price of LTCi. the most important is ones health."Money Just Pays for Long-Term Care Insurance - Health buys it!". Age is the next factor. Companies use ones actual age. Premiums increase after age 50 by 6 to 9% a year. All LTCi policies are "Guaranteed Renewable" which means the company can never cancel your coverage as long as premiums are paid. They can, however, increase the premium by class with state approval.
When I was young and first married I asked my fathers " When is the best time to buy a house?" "When you can afford it." he replied. Same is true with LTCi. You will never be younger and probably not healthier than you are today. Susie Orman an advocate for LTCi now advises "before the age of 58".
Schug The LTC Guy
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