You have a fully funded emergency fund (3–6 months of expenses). You are actively building wealth and nearing retirement.
If you are "very wealthy" (e.g., a net worth over $3–5 million) and can afford to pay for three to five years of care out-of-pocket without bankrupting your estate, you may choose to self-insure instead of buying a policy. Policy Features to Look For when to buy long term care insurance dave ramsey
You should only shop for LTC insurance after completing the first few "Baby Steps": You are out of consumer debt. You have a fully funded emergency fund (3–6
If you are healthy, wait until age 60 to buy. Purchasing in your 40s or 50s is generally discouraged unless there is a significant family history of early-onset illness. Policy Features to Look For You should only
Dave Ramsey recommends purchasing long-term care (LTC) insurance . He advises waiting until this "sweet spot" because the statistical likelihood of needing a nursing home before age 60 is less than 1%, and buying earlier often results in paying premiums for an unnecessary length of time. Core Recommendations
When reviewing quotes from providers like Zander Insurance , Ramsey suggests these specific parameters: Dave Ramsey's Views on Long-Term Care Insurance