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Knowing when to invest in long-term care insurance is an important decision that can influence the security (and peace of mind) of retirees and their families.
Long-term care (LTC) insurance provides financial support for services like nursing home care, assisted living facilities and in-home care — items likely to become necessary as our bodies age and we need more assistance with activities for daily living.
So when is the right time to buy LTC insurance? The answer requires balancing three important factors: age, affordability and health.