Yes, it is possible for individuals over the age of 80 to obtain long term care insurance. While the availability and options may vary depending on the insurance provider and the individual's health condition, there are insurance companies that offer coverage for seniors in this age group. It's important to note that the premiums for long term care insurance tend to increase with age, so it's advisable to explore options and compare quotes from different providers to find the most suitable coverage at the best possible price.
When applying for long term care insurance at an older age, insurance companies may require a medical evaluation or review the applicant's health history to assess the level of risk. Some insurers may have specific age limits or health criteria for eligibility, so it's recommended to research and contact insurance providers directly to inquire about their policies for individuals over 80.
Additionally, it's worth considering that long term care insurance typically has a waiting period before benefits are paid out, so it's important to plan ahead and secure coverage well in advance of needing long term care services. Consulting with a financial advisor or insurance specialist can provide personalized guidance and help navigate the options available for long term care insurance for individuals over 80.
Please note that the information provided here is based on general knowledge and research, and it's always advisable to consult with insurance professionals or experts for specific advice tailored to individual circumstances.