80% of people over age 85 need assistance based on research from the U.S. Census Bureau. More than 50% of people age 65 and older also need assistance. Does this mean you should wait to buy Long Term Care insurance? NO!
The younger and healthier you are, the less premium you will pay over the course of your lifetime. For example, if three people, ages 50, 70 and 80 purchase the exact same coverage, and they live to age 90, they would pay:
A common misperception about long-term care insurance is that it is only for seniors. Even young people can become temporarily or permanently incapacitated due to illnesses or accidents. Approximately one-third of LTC cases are people under 60.
*University of Alabama Hospital, 2004