LTCI Cost of Waiting  

What is the cost of waiting to buy long-term care insurance?

There is a time-honored phrase related to long-term care insurance and it goes like this: "Your money pays for long-term care insurance, but your health buys it."

As one ages, the risk of not being able to qualify for long-term care insurance may increase due to deteriorating health.

In addition to the risks of health problems as we age, the dollar cost of long-term care insurance rises dramatically because the insurer has less time to accumulate sufficient reserves to cover its part of the risk.

     

What is your current age?

What is the annual premium for a long-term-care policy at your current age? (If you do not know the premium, see your insurance professional for a complimentary quote.)

$

If you delay purchasing long-term care coverage now, at what age might you buy it in the future?

At what age do you anticipate requiring long-term care benefits?

 
   
   
Tom Luing, Investment Adviser Representative | Capital Management Associates, Inc.
7900 Xerxes Avenue South
Suite 500		 • Bloomington, MN • 55431
Phone: Direct: 952-746-1111 Main: 952-893-1200 • Fax: 952-893-0133
• toml@tomluing.com

As a Certified Financial Planner® , who focuses on your personal financial situation and helps you pursue your dreams, Tom Luing adheres to the highest standards and code of ethics in the industry. Securities through Capital Management Securities, Inc., Member FINRA, SIPC  Private Policy.