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Long
Term
Care
Insurance
Quick
Quote
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. Click
here to Email 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, marital status,
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 out of pocket 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.
If the premiums above are affordable and you are interested in insuring in the next 60 days (rates or health may change) the next step is to get a custom quote.
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