Long-term Care Insurance: When is Too Young?

December 8, 2022

2 minute read – So many things to be aware of as we age and near retirement. The cost of long-term care is not going away. According to the American Association for Long-Term Care Insurance, 26% of LTCi policies are sold to people age 45 to 54.

People that are approaching retirement age are great candidates for Long-Term Care Insurance (LTCi), but here is the breaking news, there is a rising trend in younger people purchasing a policy to protect their future. So what is prompting the younger generation to purchase something they may not use for 20 or 30 years.

Why Long-term Care Insurance now??

Many people who purchase LTCi policies now understand the importance of having coverage because they are currently taking care of their aging parents while trying to raise their own families.  They say that they now know the benefits of LTCi and don’t want to put the burden of being a caregiver on their own children.

How Healthy Do You Feel 9 or 10 Years from Now?

The premium for LTCi is based off the applicant’s age.  This means that the younger they purchase a policy, the less they will pay.  Although they may pay for a longer period of time, it is generally less expensive than waiting to buy. Younger buyers know that if their health were to change tomorrow they may not be able to purchase LTCi at any price. Buying the policy while young and in good health not only eliminates the concern about future insurability, it may cost less considering younger people have a better chance of qualifying for good health discounts.


If you want to real-world look at these costs call your local nursing home Director and share that you are doing some planning. Ask what levels of care are avialble and related costs. Ask if they offer in-home care, or, who they would recommend. Then ask what these services and cost are. In Wisconsin, during 2022, full in facility care ranges from $5500 to $7500 per month (non-medicaid).  Having this conversation with a qualified and licensed insurance advisor will help walk through this maze of options, costs, and care.

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