CAN YOU AFFORD TO LIVE THAT LONG?
At 62, Mitch asked if it was “too late” to buy long term care insurance.
Back to his question momentarily. (Hurry, Jon; you’re down to 23 seconds!)
Maybe like Mitch, you’ve wondered how long you’ll live.
The World Bank says at birth, life expectancy in the United States is 77. But if you’re still taking nourishment then, it’ll be 89! Check it out HERE .
Please note; through lifestyle changes, you can beat those odds!
As reported recently in USA Today, “the average 65 year old couple retiring now - including enrollment in Medicare Parts A, B and D - should expect to spend $315,000 on medical
costs.”
BTW, that number does NOT include long term care expenses; easily $100K per year, or more!
Which brings me back to Mitch. (Tick. Tick. Tick. Gawd, what if I had 60 minutes!)
Some say 62 is actually the ideal age to buy LTC insurance. It’s just that there are fewer and fewer carriers “taking nourishment.” (HERE, Money ‘likes’ five.) Those left make it clear your premiums will dramatically increase after purchase, as innovations in health care continue to vex actuaries.
FINI. (Pun intended and with a second to spare!)
