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Old 10-15-2017, 09:31 AM
 
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good point . when we first looked at plans 2 years before we bought they were still lifetime not just a few years.

but on the other hand they did not have our partnership plans yet so in this case we may have done a bit better waiting . but most state partnership plans do not have the extensive coverage ny does as far as assets and income but i did get that 1k surcharge by waiting .

Last edited by mathjak107; 10-15-2017 at 09:41 AM..
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Old 10-15-2017, 09:32 AM
 
8,204 posts, read 11,925,738 times
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Quote:
Originally Posted by LTCShop View Post
The way LTCi policies are priced now, it usually does NOT make sense for someone under the age of 50 to buy long-term care insurance. The only reason for buying it under age 50 is if you're concerned about insurability.

Numbers-wise, the best ages to buy LTCi is between 55 and 69.

You won't read that anywhere.

This is based on my experience. All I do, ALL DAY LONG, is run LTCi quotes for consumers in all 50 states.
Actually, I remember reading that 10-15 years ago when I was first researching LTCi insurance. A quick Google search reveals that nothing much has changed since then as many sites still suggest waiting until one's 50s or 60s to purchase LTCi, so I don't know why you think that what you're espousing is something novel. As an example, here's a link to a Money article that suggests waiting until one is near 60 to purchase it:

At what age should I buy long-term care insurance? - Ultimate Guide to Retirement
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Old 10-15-2017, 09:36 AM
 
Location: LTCShop.com
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Quote:
Originally Posted by MadManofBethesda View Post
Actually, I remember reading that 10-15 years ago when I was first researching LTCi insurance. A quick Google search reveals that nothing much has changed since then as many sites still suggest waiting until one's 50s or 60s to purchase LTCi, so I don't know why you think that what you're espousing is something novel. As an example, here's a link to a Money article that suggests waiting until one is near 60 to purchase it:

At what age should I buy long-term care insurance? - Ultimate Guide to Retirement

I was referring to the top age (69).

Most people say it's too expensive for people in their sixties.

It's not, when done right.
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Old 10-15-2017, 10:29 AM
 
Location: Central Massachusetts
4,800 posts, read 4,853,880 times
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Originally Posted by TuborgP View Post
What is available and the terms available at age 49 might not be available in five years as plans evolve. Our plan is a perfect example. Yes purchased in our mid 50's ish a 49 year old in our employment would have been better served to have purchased then and locked in what is now not available and certainly not at our price.
But you are talking 49 and that is so close to 50 that it becomes a moot point. The actual thoughts are people in their 30's and early 40's may get a good rate but the longevity of their payments until use actually makes less sense economically.
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Old 10-15-2017, 10:38 AM
 
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Originally Posted by oldsoldier1976 View Post
But you are talking 49 and that is so close to 50 that it becomes a moot point. The actual thoughts are people in their 30's and early 40's may get a good rate but the longevity of their payments until use actually makes less sense economically.
That I agree with. Even 50 can be to soon. I was just noting that in our case had we gone with more conventional wisdom it would have been to our disadvantage.
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Old 10-15-2017, 10:41 AM
 
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i was 62 and my wife 64 when we did it
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Old 10-15-2017, 11:02 AM
 
Location: Central Massachusetts
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As with everyone here. We all have very different circumstances and financial resources. We each need to look at the information in this thread see how other people applied their knowledge to determine the best solution for them and then carefully weigh all the options. For each person they also have other determining factors and that biggest one is the state and city/town they live in.
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Old 10-15-2017, 12:09 PM
 
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Quote:
Originally Posted by LTCShop View Post
I was referring to the top age (69).

Most people say it's too expensive for people in their sixties.

It's not, when done right.
How do you do it right? Assume that, by age 69, the applicant is not in perfect health, but nothing terrible either.
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Old 10-15-2017, 12:21 PM
 
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that is the million dollar question .
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Old 10-15-2017, 12:25 PM
 
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Quote:
Originally Posted by mathjak107 View Post
that is the million dollar question .
Which is why with diabetes rampant on one side of the family and my brother having and passing from and my mother having but controlled without medication and most of my cousins on that side having diabetes and me having a bad knee that was replaced a year or so later it was wise to check that box and sign up.

Retirement planning for us has been a series of checking the box.
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