Purchasing long term care insurance is more expensive at older ages. Many middle aged (50+) persons think they are too young to buy long term care. Even younger persons may experience a significant injury or devastating illness that requires long term care. Additionally, your health may deteriorate prior to buying long term care, making it unavailable or more expensive.

It is wise to realize that purchasing earlier rather than later may, in fact, save you money. The premiums are so much lower that you would benefit from an early purchase. You would have the coverage ongoing should you require it, and over the years your total outlay would be less. For example, a 50 year old and a 70 year old purchased identical coverage from a quality carrier. At age 80, the 50 year old would have spent approximately $5000 less than the 70 year old in premiums, while having had coverage for thirty years versus ten years.

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