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What is the ideal age to consider purchasing long term care insurance?
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The ideal age to consider purchasing long term care insurance is typically in your mid-50s to early 60s. This is because the premiums for long term care insurance tend to be more affordable when you are younger and in good health. Additionally, purchasing the insurance at a younger age allows you to lock in a lower premium rate and ensures that you are more likely to qualify for coverage when you actually need it. It is important to note that the cost of long term care insurance increases as you get older, and there is also the risk of developing health conditions that may disqualify you from obtaining coverage. Therefore, it is recommended to start exploring long term care insurance options as early as possible to secure adequate coverage and potentially save on premiums.
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