Terry, I understand LTC is an important part of financial planning. My children are 38, 34, and 30, are they too young to purchase the LTC insurance now? The premiums are affordable now because younger age, or should they wait until older? Thank you.
Terry Says: At this age, and especially if they have dependents, they should be purchasing disability insurance. That will probably provide more flexible financial help should the disaster that would trigger the need for care take place. Then when they are in their 50s, it might be time to switch to LTC insurance. But a lot will change between now and then.