It is possible to still purchase long-term care insurance at age 75 according to the latest information shared by the American Association for Long-Term Care Insurance.

"Age 79 is generally the cut off," explains Jesse Slome, director of the long-term care insurance industry group, "but being accepted for this important coverage is going to be highly dependent on your current health.   The few insurers who accept applicants at age 75 reject almost half of those who apply."

The Association director shared examples of costs for someone purchasing new coverage at age 75.  "For a male purchasing $162,000 of coverage with no future benefit growth a policy will cost around $4,638-per-year," Slome shares.  "Women pay more because they are far more likely to eventually claim benefits."  According to the Association's 2020 pricing index a 75-year-old female applicant would pay $7,215-per-year for similar levels of coverage.

"Your money pays for long-term care insurance but your health actually buys it," Slome explains.  "By that, I mean that the insurance companies will not offer coverage to individuals based on gathering extensive health information."

According to the Association, the following is a partial listing of conditions that generally make you ineligible for long-term care insurance.  "You have NOT seen a doctor in the past 2 years for a complete head-to-toe physical," Slome shares.  "You currently use a quad cane, walker, wheelchair, electric scooter, stair lift or hospital bed.  You currently qualify for payment under Medicaid (not Medicare) or any disability plan."

The Association has posted a special informational page for those age 75 or older who want more information.  The website lists multiple conditions that make someone ineligible for long-term care insurance.

"If you've been diagnosed with or received advice or care for any of the following, you will not be eligible," Slome notes.  "Alzheimer's Disease, mild cognitive impairment, schizophrenia, kidney failure or you've received dialysis are among the conditions listed."

To learn more visit the Association's Consumer Learning Center page for those age 75 at https://www.aaltci.org/long-term-care-insurance/learning-center/age-75-costs.php or call the Association for general information.