Should You Purchase Long-Term Care Insurance in Your 50s?

Mr. Stillman's Opus

As we age, one of the most pressing questions we face is how to manage long-term care expenses. What coverage will you need and what’s the best way to pay for that coverage? Today we answer a question about purchasing LTC insurance and whether it’s worth doing while you’re in your 50s.

John will discuss whether it is a necessary investment for those nearing retirement age and examine alternative options such as self-insuring and leveraging life insurance policies with accelerated death benefits. One significant drawback of insurance is the potential for premiums to increase over time, potentially pricing policyholders out just when they might need the coverage the most, which is why you want to know all of the options available.

Join us as we break down the pros and cons of different strategies to address long-term care expenses.

Here’s what we discuss in this episode:

0:00 – Intro

0:39 – LTC insurance at an earlier age can be a mixed bag

2:50 – Can you self-insure?

6:45 – Life insurance to pay for long-term care

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