Are You Too Young to Purchase Nursing Home Insurance?
Thinking that you are too young, can mean you avoid getting the protection provided by nursing home insurance plans. Some of us feel that it is only for people your parents’ age and that pre-retirement aged men and women shouldn’t worry about buying this important coverage.
There are several advantages to purchasing nursing home insurance at an early age. You may need to be in a facility long before you reach normal retirement age. You may develop a medical condition later in life that will keep you from buying a nursing home insurance policy if you wait too long. You be able to lock in a lower cost if you purchase a long term care policy at a younger age.
Planning ahead and purchasing a long term care policy can mean that not only are you prepared for your golden years, you are better protected today. Nursing home care is needed by people of all ages who are unable to live in the community due to a sickness or injury that causes disability.
Although it is true that one is more likely to need long term care the older one gets. Not everyone in a nursing home is elderly. Eighty-eight percent of the people in a nursing home are over age 65. This means that twelve percent of nursing home residents are not of retirement age. Continue reading…