Long-term Insurance

With healthcare costs rising and people living longer, more people who are aging are thinking about buying insurance to cover the costs of long-term care in a nursing home. But policies can be expensive, and experts disagree about the age at which you should consider buying.
Generally, it's not for people with lots of money or very little.Affluent consumers might be able to put aside enough to pay for several years of nursing care.Low-income consumers are eligible for Medicaid.People in the middle might want to look into coverage to protect their assets.Can you afford the premiums after you retire? If not, you could lose what you paid into the plan.
Buying early might mean lower premiums and an easier time qualifying, but premiums could increase while you hold the policy. You could also spend years paying on a policy you never use.Consumer Reports recommends considering a plan around age 65. If you buy at 40, better policies might emerge.Many experts recommend waiting until age 50.

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