Ages When People Buy Long-Term Care Insurance

I've talked a bit about how there's no "best" age to buy long-term care insurance. And, that it's really a matter of when you can still health qualify.

But, today's consumer caller wanted actual numbers. So, there will undoubtedly be others who are interested.

In 2007, the last year for which data was gathered by the American Association for Long-Term Care Insurance, here's the age of new buyers. The data was based on about 200,000 new insureds.
Under age 35 ... 1%
Age 35-44 ........ 6%
Age 45-54 ........ 26%
Age 55-64 ........ 50%
Age 65-74 ........ 15%
Age 75+ ............ 2%

My personal advice to folks is that your mid-50s is the best time to start the process. As I've seen myself, no one who is 50+ leaves the doctor's office without some presecription in hand. That may not cause you to lose good health discounts (or be ineligible at any cost) but why risk it.

For more information, visit the Association's Consumer Information Center where you'll find a wealth of helpful info.