you need long-term care insurance before you turn 60 years old
If you’re cruising through your 40s or 50s thinking, “I’ll worry about that later,” when it comes to long-term care insurance—you’re not alone. But here’s the truth bomb: you need long-term care insurance before you turn 60 years old, and waiting can cost you big—financially and emotionally.
Let’s unpack exactly why locking in a policy before 60 might just be the smartest move you can make for your future self.
Long-term care insurance (LTCI) is a policy that covers the cost of care services when you’re unable to perform daily activities like bathing, dressing, or eating due to chronic illness, disability, or cognitive impairment. Unlike health insurance or Medicare, it’s designed specifically to pay for long-term assistance.
Spoiler alert: Nearly everyone. Studies show that 70% of people aged 65 and older will need some type of long-term care. Whether it’s in-home help, assisted living, or nursing home care, these services add up fast—and most of us aren’t prepared to foot the bill.
Long-term care insurance usually covers:
Basically, it picks up where health insurance and Medicare stop.
Let’s break down the numbers. Based on the 2025 Cost of Care Survey by Genworth:
That’s a serious chunk of change.
If you’re thinking you’ll pay out-of-pocket, think again. Even a modest level of care can deplete retirement savings quickly. Without insurance, families often end up dipping into their assets—or worse, going into debt.
Care costs are projected to rise 3–5% annually. That means in 10 years, those $9,500/month nursing home bills could balloon past $12,000. That’s why you need long-term care insurance before you turn 60 years old—the earlier, the cheaper, and the better protected you’ll be.
Here’s a reality check: the older you are when you apply, the higher the premium. A policy purchased at age 55 might cost $2,000/year. Wait until 65? That same policy might be $3,500/year—or worse, denied entirely.
The longer you wait, the higher the chance you’ll develop health issues that make you ineligible. High blood pressure, diabetes, past surgeries—even minor conditions can lead to rejection or higher costs. That’s another reason you need long-term care insurance before you turn 60 years old.
Applying early often means:
It’s like buying a safety net before you even realize you’re walking a tightrope.
Nope. Medicare covers short-term rehab, not long-term custodial care. Big difference.
Reality check: Policies are cheaper and easier to get when you’re younger. The best time to buy? Between ages 50–60. That’s why you need long-term care insurance before you turn 60 years old—you’ll never be younger or healthier than you are now.
Unless you’ve got millions tucked away, self-insuring is risky business. And even then, why spend your own money when you can pay a modest premium for full protection?
Linda bought a long-term care policy at 55. At 68, she was diagnosed with Parkinson’s. Her policy now covers over $6,000/month in care costs, giving her family peace of mind—and saving her retirement fund.
John waited until 63 to apply. He had recently developed diabetes and was denied coverage. Three years later, early-onset dementia left his family scrambling to cover a $7,000/month care facility out of pocket.
Key features to compare:
Use online comparison tools or consult with independent brokers. Ratings from A.M. Best, Moody’s, and Standard & Poor’s can also help you vet insurance companies.
Ask smart questions—your future self will thank you.
These plans bundle life insurance with long-term care coverage. If you don’t end up needing the long-term care benefits, the life insurance payout still goes to your beneficiaries—so either way, it’s a smart move.
Some life insurance policies offer LTC riders that allow you to use the death benefit to cover care expenses.
HSAs can be used tax-free to pay for long-term care premiums—just another reason why planning early is gold.
Start looking at options around 50–55. That sweet spot gets you lower rates and more flexibility.
A broker who specializes in long-term care insurance can help you navigate the maze, compare policies, and save money.
Make sure you know how long you’ll need to wait before benefits kick in and how much your policy pays per day. Don’t leave it to chance.
You wouldn’t wait until your house catches fire to buy insurance, right? The same logic applies here. You need long-term care insurance before you turn 60 years old because after that, your options shrink, costs rise, and your health risks increase.
This isn’t just about money—it’s about peace of mind. For you. For your spouse. For your kids. Planning ahead means having control when life throws the unexpected your way.
So don’t put it off. Start looking into your options now and lock in a policy while you’re still ahead of the game.
Yes, but it’ll likely cost more and may be harder to qualify for due to health issues. That’s why it’s smarter to buy before 60.
If you never use it, consider it peace of mind insurance—like auto insurance. Hybrid policies may offer life insurance benefits if unused.
Yes, premiums may be tax-deductible depending on your age and whether you itemize deductions.
Most experts recommend between 50–60. That’s when premiums are affordable and you’re likely to be in good health.
Absolutely. You can choose benefit amounts, coverage duration, inflation protection, and more to suit your needs and budget.
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