The 5 Best Long–Term Care Insurance of 2021
- Best Overall: New York Life.
- Best for Discounts: Mutual of Omaha.
- Best for No Waiting Period: Lincoln Financial Group.
- Best for Flexible Options: Pacific Life.
- Best for Easy Benefits Payout: Brighthouse Financial.
Also question is, is long-term care insurance a good investment?
Consumer and financial experts generally agree that LTC insurance is a bad investment unless the monthly premium is 5% or less of your monthly income. … Remember that you may never need long–term care at all, or you might not need enough care to collect much in the way of insurance benefits.
Accordingly, is long-term care insurance a waste of money? Long–term care insurance can provide some security, but it is not an investment. Long–term care insurance money will be gone if you don’t use it, unlike life insurance which is guaranteed to pay. Odds are high you will never collect much if anything from a long–term care insurance policy.
In this manner, what age is best for long-term care insurance?
You’re more likely to qualify for coverage when you’re young and healthy. The ideal time to plan for long–term care is in your 40s to mid-50s. If you’re young and in good health, you’re more likely to qualify for coverage and you can lock in your insurability.