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Why We Purchase LTCi Now, Not Later

Updated: Nov 28, 2022

Consider Long Term Care Planning Today with LTC Genie!

It’s that time of the year. You meet with your financial advisor to go over your portfolio along with your retirement nest for your future. You’ve evaluated your investments, risks, and protections towards your goals, but your advisor mentions that it may be time to consider Long-Term Care Insurance. Those in their mid-late 50’s may think, "I’m a healthy person. Why would I need to purchase this type of insurance now when I can wait a few years down the road?" Purchasing a Long-Term Care policy may not be a priority to some, but those may not be aware of the consequences that are involved should you wait too long.

If you understand the importance on planning for potential extended care event, then why wait? Long-Term Care Insurance protects your retirement, your independence, and your loved ones. Should you wait and ignore on planning for your future, you could end up experiencing any of the potential risk:

  • Premiums or rates could exceed higher than what you anticipated.

  • Specific benefits or coverage may no longer be available to purchase from the insurance companies.

  • Waiting too long in applying for coverage in which your health changes or recent diagnosis from your doctor, resulting in being uninsurable.

  • Family, friends, spouses could be put in a tough position in being your caregivers, causing them to be overwhelmed physically and emotionally.

  • Your independence could be limited should you need to move into a facility as opposed to receiving care from the comfort of your own home.

  • You may be forced to self-fund for your own care, causing to spend down your retirement savings and changing your future goals.

So, If your advisor or even friends and family suggests on getting Long-Term Care Insurance, apply now, not later. You and your family will appreciate the fact that you have access to long-term care benefits should you ever need to receive care. The younger and healthier you are when applying, the lower the premium will cost. If you are concerned or not sure you qualify for coverage, contact LTC Genie. Our licensed agent can assist you in finding out what products you may be eligible to apply for.

Learn more about LTCi or request a quote with LTC Genie.


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