Issaquah Financial
Long Term Care
A solid financial plan should account for out-of-pocket healthcare expenses, including the cost of Long Term Care (LTC). Unplanned Long Term Care expenses can derail even the best laid plans. Long Term Care insurance (LTCi) may be a cost-effective method of paying for the costs of Long Term Care.
While it may be possible for you to pay for Long Term Care costs out-of-pocket, stop to consider whether or not that would be the best way to allocate your resources.
Long Term Care insurance may be a vital part of keeping your plan securely on track.
Consider the following facts about Long Term Care:
57 is the most common age to buy LTCi
More than half of all new LTC plans are for people aged 55-64
26.5% of new LTC plans are for those under 54
Being young and healthy can qualify you for good health discounts on your premium
Changes in your health can make it impossible to obtain coverage later. 33% of those aged 60-69 were disqualified on the basis of health.
