Long term health care insurance is different from regular health insurance. A comprehensive health insurance covers you for not more than 90 to 120 days. If you want to ensure that you will not be in financial crisis due to your need for long term non-medical care in the future, you should seriously consider buying long term health care insurance when you should.
If the care you need in the future is purely medical in nature, it still falls under your regular health insurance. However, if you need long term care of assisted living, you will need more than just regular health insurance.
There might be a possibility that you are not capable of taking care of yourself due to old age or health complications. This might lead to situations where you need help in performing daily routines such as bathing, dressing up and others.
You may argue that you will be cared by your family if the above mentioned situation happens to you, but how sure are you anyway? Furthermore, if you do not have long term health care insurance, your incapability to do simple life routines will affect you and your family emotionally, physically and financially. Using a nursing home can cost you an arm and a leg which puts you in serious financial problems. To avoid this from happening, long term health care insurance is needed because your regular health insurance does not cover the costs of assisted living.
It is advisable for you to consider purchasing long term health care insurance once you reach 50 years old. However, if you are rich and have no problem paying big sums of money for assisted living expenses whenever there is a need, long term health care insurance is not something necessary for you. Or if you are so poor that you qualify for Medicaid, you do not need the insurance too.