The Cost of Long-Term Care Insurance

Long-term care insurance premiums are based on your age at the time you apply for coverage, so the younger you are, the less premium you will pay.

There are other factors that affect premium as well and some of the factors vary by company, so always check with an agent that specializes in long-term care insurance.


Other Factors That Affect LTCi Premiums:

• Your health at the time you apply
• The length of your benefit period
• The policy’s features, benefits and options
• Discounts you may be eligible for
• Carrier you choose

It is important to point out that despite long-term care insurance seeming expensive, the alternative (having no long-term care insurance) is much more costly! Considering the cost of long-term care today and the steady 5% growth of LTC costs, receiving just 3 to 6 months of long-term care benefits would have paid for all the years you ever put into long-term care insurance premiums. 

At guaranteed 5% growth rates of LTC policy dollars, a $250 a day benefit today will be $500 a day in 15 years--and $1000 a day in 30!

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