I posted this comment to the article in Reader's Digest that advises consumers that LTCI premium is almost the same at age 65 as at age 55:
The advice that buying long-term care insurance at age 65 doesn't cost much more than buying at age 55 is grossly in error. Not only is the premium much more for being 10 years older, but the consumer would have to purchase a much larger policy 10 years from now due to inflation and would pay much more for the coverage over a lifetime. Most importantly, about 1/3 applicants at age 65 are declined due to health conditions. One needs to buy LTCI as young as possible!
Phyllis Shelton, Nashville TN
To really see the point, click here for an example from my 2009 Worksite Selling System to see a dramatic illustration of the True Cost of Waiting!