When one comes across long term insurance, it immediately sparks off a debate as to whether it is an thing of an asset or a long term benefit plan. However, long term care insurance actually offers a helping hand to those people who are not able to take care of themselves.

Reasons for long term insurance comprise of prolonged illness like cancer, degenerative condition like a stroke or a Parkinson’s disease, a cognitive disease like Alzheimer’s disease.

Purchasers of long term care insurance pay a premium regularly so that in the event of a catastophic illness, they do not have to choose between care or not. Long term care insurance is recommended by variaous insurance companies after the age of 50. Even more financial advisors suggest getting a policy by the age of 65.  In situations where one is going through a chronic illness or there is a history of serious illness in the family, getting the insurance before the age of 65 is recommended.

Waiting until you turn 65 is not a necessarily a good idea as premiums are likely to be higher, and there is a chance that you will not pass your insurers medical test.

Of less concern but still something to be considered nonetheless, is the financial health of the insurance company you are looking to go through.  Verify their financial health before placing your long term care in their hands.

The proper time to get it entirely depends on your financial and medical situation.  IT should be noted though that 70% of those over the age of 65 will eventually require some type of long term care.