Often
the first thing people want to know about long term care insurance
is "how much does it cost?" Since many people are
just learning about long term care insurance we put together
this page explaining what an average policy will cost.
Your premium will be determined
by your age when you take out the policy, your health, state of
residence, and the benefits you choose.
Do you want a deductible
or a co-pay, if so how much? Do you want to pay every year or
by quarter and do you want to pay over your lifetime or for a
fixed pay period like 10 years to have a paid up policy? Is international
coverage important?
The
sample below is based on an average plan. You can choose entirely
different benefits than the sample shown. If
you are uninsurable for health reasons or already have been declined
for long term care insurance consider a fixed annuity with long
term care benefits. (Annuity w/LTC)
To get an idea of
what it would cost you, look at your age in the chart below,
The chart shows the rate for a single person. If you are
married, have a partner, or are sharing expenses with someone,
then see Discounts.
The premiums shown
are based on a basic
policy with average benefits. You pick your plan benefits
based on affordability and potential care needs. You can Email Us
or
call us if you have
any questions.
SAMPLE
PLAN:
Single Person Rate
Daily Benefit Pay Out:
$150 a day
Benefit Period: 3 year
Elimination Period:
90 day
Health Rate: Standard
Inflation Protection:
type indicated (C,
S, X)
No discounts.
No riders.
Premiums may be
different for your
specific age, health,
benefits, or state
of residence.
|
Monthly
Premium |
Age |
40
- C |
45
- C |
50
- C |
55
- C |
60
- C |
60
- S |
65
- C |
65
- S |
70
- S |
70
- X |
75
- S |
75
- X |
|
145 |
151 |
159 |
191 |
235 |
170 |
302 |
242 |
386 |
256 |
638 |
469 |
. |
|
Annual
Premium |
Age |
40
- C |
45
- C |
50
- C |
55
- C |
60
- C |
60
- S |
65
- C |
65
- S |
70
- S |
70
- X |
75
- S |
75
- X |
|
1650 |
1725 |
1800 |
2175 |
2686 |
1936 |
3451 |
2761 |
4411 |
2926 |
7291 |
5356 |
Age
- C = Compound Inflation
Protection
Age - S = Simple Inflation
Protection
Age - X = No Inflation
Protection
Inflation
protection
increases the
daily benefit
annually.
Example: Daily
benefit starting
at $150/day with
a 3-year (1095
day) plan.
Does not require
an increase in
premium. |
Compound
Inflation Protection |
Simple
Inflation Protection |
| Years |
Daily
Benefit |
Benefit
Account |
Years |
Daily
Benefit |
Benefit
Account |
| 1 |
$150 |
$164,250 |
1 |
$150 |
$164,250 |
| 7 |
$211 |
$231,045 |
7 |
$202 |
$221,190 |
| 10 |
$244 |
$267,180 |
10 |
$225 |
$246,375 |
| 15 |
$311 |
$340,545 |
15 |
$262 |
$286,890 |
|
DISCOUNTS
Residential 15% - if one applies or one is approved.
Couples 20%+ - if two apply and two are approved.
HEALTH
RATING
Class 1, 2, Standard, Preferred.
Preferred health discount 10%, eligibility determined by underwriter.
Other Options
For couples Survivorship Benefit, Shared Benefits
Home Care Elimination Period Waiver
If you cannot afford LTC insurance how are you going to afford $6,000 or more a month for care?
You can see it's cheaper to buy when younger.
The risk of waiting is not only the higher premiums when you're older,
you may not health qualify. The
premium will be the same from us or another agency.
The first step is to see if you qualify. We provide current quotes
from all the top companies. Our advisors are here to assist you
in picking the best policy for your needs.
The best investment is one that you do not have
to think about. Long term care insurance will provide you with income
and asset protection ... and peace of mind.
GET A PERSONALIZED QUOTE TODAY
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