Why Might a Younger Person Buy Long Term Care Insurance?

Shawn Plummer

CEO, The Annuity Expert

Why Might a Younger Person Buy Long-Term Care Insurance?

Lower Premiums at a Young Age

  • Reason: Younger individuals generally pay lower premiums due to their age and better health.
  • Example: A 30-year-old might pay significantly less per month than a 60-year-old for the same coverage.

Protection Against High Long-Term Care Costs

High Probability of Needing Long-Term Care

  • Reason: Statistically, about 70% of individuals over 65 will require some form of long-term care.
  • Example: Even if currently young, there’s a high chance of needing long-term care later in life.

Benefits of Early Purchase

  • Reason: Buying a policy early can be more cost-effective and ensures coverage is in place when needed.
  • Example: Purchasing at a younger age locks in lower rates and avoids the risk of being uninsurable due to later health issues.

Alternatives to Traditional Insurance

  • Options: Long-term care annuities offer an alternative where unused premiums aren’t lost.
  • Function: These annuities can double or triple the initial payment to provide tax-free long-term care benefits, based on medical records.

Long-Term Care Insurance Options

FactorTraditional Long-Term Care InsuranceLong-Term Care Annuity
PremiumsLower when younger, potentially lost if not usedHigher but can be used for care or as an investment
CoverageSpecified in policy, based on daily or monthly limitsBased on initial investment and can grow over time
EligibilityBased on current health statusMore flexible, with less stringent health requirements
BenefitOnly for long-term careFlexible, can be used for various needs


Buying long-term care insurance at a younger age is strategic, offering lower premiums and safeguarding against the high costs of future care. Alternatives like long-term care annuities provide flexibility and a return on investment if care is not needed. Understanding these options helps in making informed decisions for long-term financial security.

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Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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