Experts say three to five years’ worth of coverage is a good bet. On average, women need services longer than men — 3.7 years for women and 2.2 years for men. Women accounted for nearly two-thirds of all long–term care insurance claims paid in 2018, according to AALTCI.
People also ask, what kind of insurance do you need for a nursing home?
If your income is low and you have few assets when you need care, you might quickly qualify for Medicaid. (Medicaid pays for nursing home care; in most states it will also cover a limited amount of at-home care.)
Furthermore, what age should you buy long term care insurance? Most LTC claims begin when people are in their 80s. Because of that, somewhere between ages 50 and 65 is generally the most cost-effective time to buy. The younger you are, the lower the cost—but if you purchase too early, you‘ll be paying premiums for a longer period of time.