The older you are when you buy long-term care insurance, the higher the cost for the premiums (see table above). On the other hand, the younger you are when you buy your plan, the longer you may pay premiums before needing any benefits. Generally, buying a plan while you are still healthy, in your late 40s or early 50s, is ideal. Keep in mind, however, that your premium could double over the life of the plan. You will have to continue to pay more or lose your protection under the plan. It is important to talk to your financial adviser about how this type of insurance fits into your long-term financial strategy.