Long-Term Care Insurance Quote Service
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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 might cost.
Since this is health insurance you need to understand the saying: "you buy it with your health and pay for it with your money." So if you cannot health qualify no matter how much you are willing to pay, you are on your own, you can't get insurance. This is also true for linked-benefit life insurance and annuities with long term care riders.
Your premium will be determined by your age when you apply, your health, state of residence, and the benefits you choose. Unlike life insurance where you would usually pick one benefit, the death benefit, with long term care insurance you will be picking at least four benefits; daily or monthly benefit, benefit term (2-10 years), inflation protection, elimination (waiting) period deductible.
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? If married do you want shared benefits? Is international coverage important? These questions can only be answered by understanding their significance, and why our advisors provide free assistance.
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, see Discounts.
The premiums shown are based on a basic policy with average benefits. You pick your plan benefits based on affordable premiums and potential care costs. You can choose entirely different benefits than the sample shown when you apply.
Residential 5%: if both apply and both are approved (two people not partners or not married but living together).
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 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.