Cowart Insurance Agency Blog

All You Ever Wanted to Know About Insurance

Do I need long-term care insurance?

Should you purchase long-term care insurance? The decision depends on a number of factors, including your age, gender, health status, income and assets. Here are some of the most important factors to consider, according to the National Association of Insurance Commissioners:

  • Age: The longer you live, the more likely it is that you will need long-term care. As a result, premiums rise with age. The younger you are when you purchase this coverage, the lower your premiums will be.
  • Gender: Women are more likely to need long-term care because, on average, they live longer and are likely to outlive their husbands.
  • Health Status: If chronic or debilitating health conditions run in your family, or you have one or more major health issues, long-term care insurance could be a good choice. However, your premiums likely will be higher than another person of the same age and gender with no health issues.
  • Income and Assets: You may choose to buy a long-term care policy to protect assets you have accumulated. But long-term care insurance can be costly. It may not make sense to purchase long-term care coverage if you don’t have much in the way of assets or you have a limited income

Want us to contact you? Complete a request for your free long term care insurance quote. We would be happy to answer any questions that you may have regarding long term care insurance.