Are you in the market for long-term care insurance at 65? Here are three times to, and not to, buy a policy.
Have you thought about how you're going to access care later in life when you need it? Are you considering a nursing home or do you plan on aging at home with a mix of family caregivers and home health aides? In either case, that care can be costly. According to Genworth, the average cost of a private room in a nursing home is expected to be about $120,000 per year through 2024.
After all, a few years of care at $120,000 per year can significantly limit what you have left to leave behind when you die. When you're still healthyAs is the case with age, your health plays a significant role in the cost of your long-term care insurance. But, older ages typically come with health concerns. So, if you're already 65, it's important to purchase long-term care insurance now, especially if you're in good health.
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