--- title: The Top 5 Reasons You Need to Talk to Your Parents About Long Term Care Insurance NOW description: It's not always easy, and it's not always fun, but we have 5 reasons why you need to talk to your parents about long term care insurance NOW. image: https://info.bluemarsh.com/hubfs/hand-3200399_1920.jpg --- [![Honey Brook PA Insurance Agent](https://info.bluemarsh.com/hubfs/BlueMarshInsurance_April2018/Images/preheader_01-1.png)](https://www.bluemarsh.com/) - [Home](https://www.bluemarsh.com/) - [About Us](https://www.bluemarsh.com/about-us/) - [Referral Rewards Program](https://www.bluemarsh.com/referral-rewards/) - [Customer Testimonials](https://www.bluemarsh.com/customer-testimonials/) - [Rate Us](https://www.bluemarsh.com/rate-us/) - [Blog](https://info.bluemarsh.com/blog) - [Products](https://www.bluemarsh.com/insurance-products/) - [Customer Center](https://www.bluemarsh.com/customer-center/) - [Online Quotes](https://www.bluemarsh.com/insurance-quote/) - [Contact](https://www.bluemarsh.com/contact/) - (610) 590-0152 - [MyAgent@bluemarsh.com](mailto:MyAgent@bluemarsh.com) - [Start Quotes](https://www.bluemarsh.com/insurance-quote/) # The Top 5 Reasons You Need to Talk to Your Parents About Long Term Care Insurance NOW by [Erika Buck](https://info.bluemarsh.com/blog/author/erika-buck)    August 13, 2019 It's not always easy, and it's not always fun, but it's very important to talk to your parents about [long term care insurance](https://www.bluemarsh.com/insurance-products/personal-insurance/long-term-care/) before it's too late. Wondering why? 1. The longer you wait, the higher the premium will be. There are various theories about when the best time to buy is, but we generally suggest around the age of 60. While premiums are less in your 50’s, you will be paying the premium longer as most people do not need long term care until they are in their 70-80’s. We can advise you on the best time for your parents to purchase their policy. 2. People often wait too long and then have conditions that make them ineligible. Long term care insurance will always have medical underwriting. Many people don’t begin to think about long-term care until they need it. Unfortunately, they likely won’t be able to buy a policy at that time because they will be ineligible. 3. Protect your assets. Living in a long-term care facility can cost upwards of $70,000 per year! Your parents worked hard for their assets (and many of them are hoping to leave behind an estate for their family). Without long term care insurance almost all of their assets will be used to pay for the facility until Medicaid kicks in. 4. Relying on Medicaid might not make sense in 20-30 years when they really need it. More and more doctors are not accepting Medicaid. Laws continue to change in the healthcare field. It’s no guarantee that they will qualify, or if it will be available to pay for them to live in a facility. Don't count on Medicaid alone! 5. People are living much longer. Long-term care facilities are going to be coming increasingly filled with more and more people in the next couple of decades because people are living longer. If they rely on Medicaid, there won’t be many options for facility quality or type. Wouldn’t they rather be able to choose where they spend their final years? Need help figuring out how to explain the importance of long-term care insurance to your parents? We can help! 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