I previously blogged on how you could preserve assets to pass on to you kids. One of the recommendations I had was Long-Term Care Insurance as it was a means to shift the risk in your favor in the face of extended late-in-life full time nursing care. I fully admit that a) I don't sell or know insurance, and b) I've never had a client in the position to consider such insurance. I've mentioned it to my parents, but I think the boomers (my parents being a sort of post-boom: too young for Elvis, too old for the Beatles) don't really have any concept of what long-term care insurance is or what risks it possibly mitigates.
Well, I'm learning. That's my job. And I pass my learning onto you.
The New York Times has a whole host of blogs; one being The New Old Age which examines the issues of aging and being a senior in today's world. It hosted a Q&A on long-term care insurance and posted some great answers here and here.
The consensus seems to be: if you can afford the premiums, begin coverage in your mid-50s to mid-60s.
