Despite being past the retirement age, many elderly folks feel that their health is still in tiptop condition so this confidence seems to be responsible for convincing them that they are not among those who should buy long term care insurance.  Or, aren’t they?



Professionals working on the field of long term care insurance (LTCI) say their records reveal that in the last two years majority of new policyholders came from the 45 to 64 age bracket.  If younger people are planning their long term care (LTC) needs already, shouldn’t the much older ones be more concerned?



No one will be exempted from LTC even though sometimes you feel that you could be among the few who shall be.  Without an effective LTC plan, you or any uninsured individual for that matter will inevitably find himself burdened with the unbearable cost of care.  Just how many families have there been in the past who  took a beating from the high costs of nursing homes, in-home care, and assisted living among others?  Innumerable.



Now your family does not have to be counted into that group if you will start planning your future health care needs today as LTC costs are expected to double anytime beginning 2025.  Before you can adjust to the new rates of facilities, financial advisers say that there will be another round of increase by 2030 and that it’s going to be fourfold.



Use your time to inquire about LTCI policies so that you can get hold of a coverage that will be most suitable to your needs. 



Who Should Buy Long Term Care Insurance?



If you ask LTC experts this question they’ll ask you back, “how much is your annual take-home?”



Only those individuals earning billions of dollars a year can confidently say that they do not need to buy an LTCI policy.  They can actually receive care in different types of LTC settings and not feel the costs of these deducted from their cash in hand.



That’s the beauty of being wealthy.  Unfortunately, only a handful of Americans are because majority of them have to work like a horse to make ends meet.  If you have managed to acquire a significant amount of assets through years of hard work, wouldn’t you want to preserve this and pass it on to your loved ones such as your children? 



That would only be possible if you have an LTCI policy so while you’re strong and healthy, start making inquiries.  Perhaps you might want to contact a specialist on LTCI to guide you along the way and make planning easier.



You have to believe that it is not only you who is wondering who should buy long term care insurance.  Many people continue to live in the state of denial because they refuse to acknowledge the fact that LTC is part and parcel of any human being’s life.  Very few people have transcended this dimension of life without requiring care.  If you’re lucky you could, too, but if not your family suffers with you. 


Merian Eksteen is a writer specializing in personal finance. You may visit for more tips on planning for long term care and preparing for long term care plan

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