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Is it possible for an 80-year-old to purchase long-term care insurance? Can an 80-year-old purchase long-term care insurance?
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Yes, it is possible for an 80-year-old to get long-term care insurance, but it may be more challenging and expensive compared to purchasing it at a younger age. Long-term care insurance is designed to cover the costs of long-term care services, such as assistance with daily activities like bathing, dressing, and eating, that are not typically covered by health insurance, Medicare, or Medicaid. When an 80-year-old applies for long-term care insurance, the premiums are likely to be significantly higher due to the increased risk of needing long-term care at that age. Additionally, there may be limitations on the coverage options available to individuals in this age group. It's important for individuals in this age bracket to carefully consider their options and consult with insurance providers who specialize in long-term care insurance for seniors. Some insurance companies may have specific policies tailored to meet the needs of older individuals. It's advisable for an 80-year-old seeking long-term care insurance to compare different policies, consider the benefits, limitations, and costs, and make an informed decision based on their individual circumstances and needs.
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