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One should consider the length of the long term care insurance as well as the monthly cost and if one's income can support this. It is also important to find out of this type of insurance suits one's life.

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12y ago

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When should one consider buying long term care insurance?

Cost-wise, you'll pay significantly less per month if you purchase long term care insurance when you're in your mid 40s than you will spend when you buy long term care insurance in your mid 60s.


What is the age you should get purchase long term care insurance?

There is really no specific age for a person to buy long-term care insurance. Depending on how risk averse you are, you have to consider several factors. Generally, the most acceptable and advisable age to buy ltci is during your 50s, however, buying it at a younger age gives more affordable premiums and the greater chance of your application to be accepted because as you age, the risk of developing illness and physical disability is higher


Is a 1946 life policy still valid?

It's possible that a life insurance policy from 1946 is still valid, but you should contact the insurance company to verify the policy's status. Insurance policies can vary in terms of their conditions and expiration dates.


How do you check the status of an old life insurance policy?

You should contact the company. If they have gone out of business, their policies will have been taken over by someone else, so you should find out who. The state department of insurance should know, if you can't find out through any other means.


Where can someone find more information about the cost of long term care insurance?

The cost of long term care insurance should be clearly set out by the company trying to sell it to a person or their representative. But as it is important to check their figures, you can compare them at Genworth.

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