When should I start planning for long-term care?

Most insurance agents will explain that premiums for long-term care insurance rise dramatically after your mid50s. After age 60 and beyond, the cost may become prohibitively expensive.

If you’ve missed the window for long-term care insurance, and even with coverage, it can be beneficial to start the planning process for your long-term care needs in your 60s. The best advance planning takes five years.