Buying early is important!

Taking action to Buy a plan TODAY when you are younger means you gain:

    A lower cost: Plan costs go up for each year of age so it's 33% higher if you wait to 55 vs buying at 50. The cost is 60% higher at age 60 vs 55 so buying early is important.

 

    More benefits: Waiting to age 55 vs 45 means  — having to buy an initial benefit pool of over $400,000 vs the $250,000 pool bought at 45. How? The $250,000 bought 10 years ago increased each year with a 5% compound inflation option in addition being 10 years older means a higher cost.


    A good health discount: American Association Long Term Care Insurance (AALTCI)  found:        

      ˃ Just 53.9% of people between 40 and 49 qualified for a health discount. 

      ˃  Between 50 to 59 just 44.2% did. 

      ˃ From 50 to 59 -  31.9% did. From 60 to 69 it was just 18.8%.


    A higher chance of being accepted: AALTCI also found: 

      ˃ Up to 33% of individuals 60 to 69 had health problems and were not able to qualify


    Another study of 10 leading long term care insurance companies found: 

       ˃ 13.9% of individuals 50 to 59 did not qualify. 


    Individuals in this video share some insights on buying this important coverage early. Its a short 2 minutes and from Life Happens. 


Call John C Parker today at 860.739.0005 to talk about Long Term "Health" insurance options to meet your interest & budget. I'll get back to you if not available.