What Age Should You Buy Long-Term Care Insurance?

Why Does AALTCI Say The "Best Time Is Between Ages 55 and 64"

Here's why Jesse Slome, director of the American Association for Long-Term Care Insurance and a 40-year-industry veteran says that between 55 and 64 is the ideal time to consider buying long-term care insurance. Age 64 is specifically cited because at age 65 people typically qualify for Medicare health insurance coverage. That can be a game changer.

Between 55 and 64 represents the financial "sweet spot" for most individuals (and couples). You are far enough along in your retirement planning to clearly picture your future needs, yet young and healthy enough to qualify for favorable health underwriting and good-health discounts.

Buying earlier keeps monthly premiums lower over time. We'll show real examples of what waiting a few years to apply can cost you. We'll explore the misconceptions about future rate increases.

Most important, delaying into your late 60s or 70s increases the likelihood of pre-existing health conditions that can raise costs or limit policy options. When it comes to long-term care insurance, Your money pays for coverage BUT your health really buys it. Your health when you apply is the most important factor.

Why Is Starting Medicare A "Game Changer" When It Comes To Buying Long-Term Care Insurance?"

If you are approaching age 65, it is wise to apply for long-term care insurance before transitioning onto Medicare.

While Medicare’s welcome benefits — such as the free "Welcome to Medicare" preventive visit and annual wellness exams—are wonderful tools for catching minor health changes early, the detailed lab work and diagnostic tests generated during these checkups create new medical records.

Even a mild, manageable diagnosis like early osteopenia or borderline elevated blood sugar can shift your underwriting profile and make long-term care insurance more expensive or harder to obtain. Applying just before your Medicare benefits kick in allows you to lock in coverage based on your current health status, ensuring you get the best possible rates before new routine screenings add fresh notes to your medical history.

What's The "Preferred" Health Long-Term Care Insurance Discount?"

Preferred Health Discounts are savings offered by long-term care insurance underwriters to applicants who demonstrate exceptionally good medical health, favorable family history, and lifestyle indicators (such as normal body mass index, controlled blood pressure, and no significant chronic conditions).

Typical Savings & Percentages Range: Among top carriers, qualifying for a Preferred or "Good Health" discount typically reduces annual premiums by 10% to 15% off standard rate classes.

For example, on a policy with a baseline rate of $2,500 per year, a 15% preferred health discount saves $375 annually, totaling $7,500 over 20 years. If a couple both qualify for preferred health and a joint spousal discount, their combined annual savings can often exceed $1,000 every year compared to standard rates.

What Health Issues Can Make It Impossible For Me To Buy Traditional Long-Term Care Insurance?"

"Your health buys long-term care insurance," Jesse Slome, Director, AALTCI. A change tomorrow in your health can increase what you'll pay for LTC insurance or make you ineligible. If you have existing health issues, shopping your health is most important.

Insurers automatically decline coverage for conditions that affect cognitive function or progressive motor control, as these represent the most common triggers for long-term care claims.

Examples include Alzheimer’s disease, dementia, or Mild Cognitive Impairment (MCI), Parkinson’s disease, Multiple Sclerosis (MS), Muscular Dystrophy, Cerebral Palsy, or Huntington's Disease

A history of major cardiovascular events or severe vascular disease poses high risks for recurring strokes or physical dependence. Recent Stroke or Transient Ischemic Attack (TIA): Most carriers require a waiting period (often 2–3 years) following a single stroke/TIA, and multiple strokes or TIAs are usually an automatic decline.

Pending Surgeries or Diagnostic Tests (e.g., joint replacement) or recommended tests/scans whose results are pending can impact your ability to qualify. Carriers will postpone underwriting until the procedure and recovery are complete.

Do All Long-Term Care Insurance Companies Have Identical Health Requirements?"

Generally YES when it comes to the automatic declines. But, if you have existing health conditions or take multiple prescription medications, you can reduce your risk of being rejected by working with a knowledgeable long-term care insurance specialist familiar with each company's requirements.

Here's Why To Seek Out A LTC Insurance Specialist: If your long-term care insurance application is declined by one insurance company, that can result in automatic declines from other insurers. The cost of underwriting your application today can cost between $600 and $900 (double that for a couple). So, it's easier for the insurer to simply decline your application(s).

For that reason, individuals with some existing health conditions can call the American Association for Long-Term Care Insurance. Often we can advise whether you should or should not proceed to seek out LTC insurance options.

Are Linked-Benefit Long-Term Care Insurance More Willing To Accept People With Health Issues?"

Linked-benefit policies are generally more flexible and accommodating than traditional long-term care insurance (LTCi). Though the degree of flexibility depends heavily on whether the policy is a hybrid life policy or an annuity/LTC combination.

Because traditional LTCi carriers face high long-term exposure to morbidity (the likelihood and duration of long-term care), their underwriting is notoriously strict.

Hybrid policies shift the risk pool because the insurer is balancing mortality (life insurance) or absorbing the risk through an existing cash asset (annuity).

Many life-LTC hybrids use simplified medical underwriting — relying on prescription database checks, medical records, and phone interviews rather than physical exams, blood draws, or urine tests.

Are There Other Options For People With Existing Health Issues?"

If an existing health issue makes qualifying for traditional long-term care insurance a challenge, short-term care insurance provides a viable path to securing valuable home health and facility protection.

Offered by major insurers, these limited-duration policies feature simplified underwriting with just a handful of health questions. Applicants managing common chronic conditions—such as controlled Type 2 diabetes, joint degeneration, mild cardiovascular issues, or a past history of treated cancer—can frequently qualify for short-term care coverage even after being turned down for traditional policies.

By providing up to a full year of cash benefits for in-home or facility-based care, short-term care insurance ensures you don't have to leave your recovery completely unprotected.

What Changes In Health Typically Happen When Men and Women Are 65 Or Older?"

The most significant shift after age 65 is the transition from managing single, minor health issues to navigating multiple chronic conditions.

According to the CDC, while chronic conditions affect adults of all ages, over 90% of adults age 65 and older have at least one chronic condition, and nearly 80% have two or more.

Long-term care insurers look closely at the cumulative impact of health issues. While a single condition like controlled high blood pressure is usually insurable at preferred rates, the combination of two or three co-occurring conditions (such as elevated blood sugar, hypertension, and joint degeneration) frequently triggers higher premiums or outright rejections.

For Women estrogen loss following menopause accelerates bone density reduction. By age 65, bone loss and osteoarthritis spike, leading to joint replacement surgeries, mobility impairment, or prescription biologic treatments—all of which lead to underwriting postponements or declines.

For Men rates of heart failure, ischemic heart disease, and strokes rise sharply for men after age 65. A single cardiovascular event or the placement of a stent post-65 typically results in a multi-year waiting period before an insurer will consider an application.

How Much Do Long-Term Care Insurance Prices Increase Each Year I Delay?"

The American Association for Long-Term Care Insurance analyzed the 'cost of waiting' to buy long-term care insurance.

If you wait (say from age 55 to 65) the same initial coverage costs 49.9% more. As a result, not only will you pay more, but you forfeit the increase in potential available benefits (thanks to having an annual growth factor.

Plus you risk being declined for health reasons or paying more. Finally, you may louse the 'couple's or spousal discount' due to spouse's death, divorce or denial of coverage.

What's The Current Fact Regarding Future Long-Term Care Insurance Prices Increase?"

If you've read about steep rate increases on long-term care insurance, it's important to know those hikes apply almost exclusively to "legacy" policies sold in the 1990s and early 2000s. Decades ago, insurers underpriced policies because they lacked long-term claims data and made overly optimistic assumptions about interest rates and policy cancellation rates. Today's policies are vastly different.

According to the American Association for Long-Term care Insurance, policies priced in recent years reflect decades of actual claims data and operate under strict state rate stabilization rules passed by the National Association of Insurance Commissioners (NAIC).

An industry survey conducted by the American Association for Long-Term Care Insurance (AALTCI) polled nearly 80 LTC actuaries regarding modern pricing stability. Over 79% of responding actuaries reported that the likelihood of a future rate increase on recently priced policies was 10% or less.

If Only One Spouse Will Be Insurable, Should We Still Consider Pricing Long-Term Care Insurance Coverage?"

When a couple applies for long-term care insurance and only one spouse qualifies, the immediate reaction is often to abandon the idea altogether. However, financial planners and insurance specialists strongly advise keeping coverage for the insurable spouse.

Purchasing a policy for one partner isn't just about protecting an individual — it is a strategic decision that safeguards the shared financial foundation and physical well-being of the entire household.

Many consumers assume that if only one person applies, they lose all spousal pricing advantages. In reality, several leading insurers offer a Partial Spousal Discount (often 10% to 15%) simply because the applicant is married or in a committed domestic partnership, even if the partner is uninsurable or declines to apply.

If the uninsurable spouse already manages chronic health conditions, expecting them to act as a primary caregiver if the other spouse becomes ill can be physically impossible. Having a policy in place for the insurable spouse guarantees access to professional home health aides or facility care, relieving the uninsurable spouse from the severe physical and emotional strain of full-time caregiving.

Can Comparing Long-Term Care Insurance Policies Save Money?

Yes. One of the most important steps consumers can take is comparing available options from multiple insurance companies.

A common misconception is that all long-term care insurance companies charge approximately the same amount. In reality, pricing can vary significantly, and the differences can add up to thousands of dollars over the years a policy is owned.

Working with an experienced long-term care insurance professional can help consumers understand the differences between available policies and select coverage that fits their goals and budget.

How Can I Compare Long-Term Care Insurance Costs?

The best approach is to compare policies from multiple insurers while considering both price and the benefits provided. The lowest premium is not always the best value.

About the Reviewer: Jesse Slome is the Director of the American Association for Long-Term Care Insurance, an organization dedicated to providing long-term care insurance education, research and consumer resources. His work in long-term care insurance dates back to 1987 and includes experience with leading insurers including Aetna and Transamerica. He holds multiple professional insurance designations, including CLU (Chartered Life Underwriter) and ChFC (Chartered Financial Consultant) from The American College of Financial Services.