Your Self-Funded / Self-Insured Quote
If you paid your own long term care bills this is how much your cost would be based on today's average cost for long term care.
Daily: $200
Monthly: $6,000
Yearly: $72,000
Which plan would you rather be on, the self-funded plan above or the insurance funded plan below?
Long term care insurance cost (premium) per person.
Daily: $7-$10 (your age and benefits may show different premium for a $200/day 3 year plan)
Monthly: $210-$300
Yearly: $2520-$3600
Like retirement planning, long term care planning needs to consider present and future scenarios.
If you needed care today at today’s cost for care you will spend an average of 3 years in care at a cost of $216,000 (out of pocket).
Considering that the cost of care will double in 14.5 years, if you needed care in 15 years your care cost could be $144,000 x 3 years = $432,000 (out of pocket).
Get a long term care insurance quote to transfer the risk to an insurance company.