Now is the time to get more information about long term care insurance and find a plan to fit your needs. In Addition to the long term care benefit these annuities offer Tax Growth, Up to 10% Bonuses for the first 5 years and many other Benefits. The best way to get cheap long term care insurance is to buy it when you are young and before you have any major physical problems. The older you get the greater the risk that you will not be accepted but, if at the age of 70, you are still a viable option for long-term care insurance the annual cost will probably be more than double the cost of a 60 year old at around $1,600 to $2,000 or more. On average, someone age 65 today will need some long-term care services for three years. Spend down: You run the risk of having to spend down your entire life savings for long term care needs before you die, leaving nothing to your heirs or worse yet, to your surviving spouse. LTCi then helps make sure that there are enough funds available to avoid placing an undue burden on any one person or group of loved ones or friends. Unfortunately, by the time most people need long term care, the time to purchase insurance has long passed. It is wise to look for those that have the CLTC designation which stands for "Certified in Long Term Care". Women need care for longer (on average 3.7 years) than do men (on average 2.2 years). Every generation feels that leaving a legacy is important, even if their children are already successful. If you consider the total cost of long-term care insurance, just until the age of 80 (and for many this wont be old enough) policies taken out at the age of 50 will cost you significantly less than those taken out at 60. Long term care insurance is designed to help pay for many types of long-term care, including both skilled nursing care and community based care. Most people wouldn't even consider being without homeowners and auto insurance, but there are far too many people who are not yet protected with long term care insurance. Such an expense could easily cost hundreds of thousands of dollars. First, one should gather information on long term care insurance. That is why it's best to find the company that is best for your particular situation and not to view LTCi as just a cookie-cutter commodity. But in most cases, an investment is made in LTCi by folks who do have family and/or friends that conceivably could provide at least some level of care if needed. According to the US Government 40% of the People Currently receiving Long Term Care Services are between 18 and 64. So if a Couple only has $13,740 the Spouse gets to keep it all and Medicaid will pay the long Term Care Costs. Many Insurance companies offer Annuities and Equity Indexed Annuities with a Nursing Home Benefit. As with all types of insurance it is a good idea to shop around as the cost of long-term care insurance can vary by several hundred dollars at the age of 50 and as much as $700 or more if you take a policy out twenty years later. This kind of widespread price range undoubtedly makes a person wonder whether or not purchasing a long term care insurance policy is really worth the cost or, even feasible budget-wise. If you see the wisdom in investing in both an auto and home insurance policy, what are the odds that you will have to use either of them to protect against a major financial threat in your lifetime? One in a hundred? One in fifty?. But in most cases, an investment is made in LTCi by folks who do have family and/or friends that conceivably could provide at least some level of care if needed. The truth is that every company has their own proprietary method of determining policy features, premiums, and health issue qualifications.