Why not buy at a younger age?
• The world will change – Younger purchases may not actually use the services for 30-40 years and in that period of time, many changes may occur that might not be covered by the old policy or may make the policy obsolete. . For example, the earliest policies only covered nursing homes, while new polices cover home-health care. Also the provider could go out of business • The consumer may not be able to pay the premium as they get older in which case they will lose coverage although some companies do offer options that provide limited coverage even if premium payments stop. In conclusion, long-term care insurance is a complicated product that is not for everyone. People should consider their individual circumstances when choosing whether to purchase a policy as well as the features of the policy.
