Long-term care insurance can help to protect your savings should a spouse go into a nursing home. But, like all things insurance, it is best purchased long before you need it.
Long-term care insurance is best purchased in your mid-50s, when rates will be better and chances of getting accepted are higher.
About 23 percent of applicants in their 60s are declined coverage, while only 14 percent of those in their 50s are declined according to Investopedia.