When to Buy Long Term Care Insurance
The best time to buy Long Term Care insurance is before it is too late, better known as “you are no longer insurable” - whether it be because of your age or your health. According to the AARP it is best to buy Long Term Care insurance when you are middle aged. This is when you are more than likely insurable and the premiums are still affordable.
Since most companies do offer a "Good Health Discount" (AKA Preferred Discount) it is also a good idea to purchase LTC insurance prior to middle age, before any health conditions arise (such as a common middle age health conditions like high blood pressure). Because of this one condition, the premiums could be up to 20% higher as one may not qualify for the Good Health Discount with some carriers.
Most insurance companies will insure someone up to age 79-84, however the likelihood of getting one insured at that age is very slim. And even if one is insurable, it is not likely the Long Term Care insurance will be affordable then