|
|
|
What Does Long Term Care Insurance Cost?
Long-term care insurance premiums are based on your age and the condition of your health when you purchase a policy. Assume a person is in good health. Consider that the average nursing home stay is 2½ to 3 years. It should be no surprise that a survey of several top insurance companies shows the average long-term care policy purchased contains these benefits:
|
(The following premiums are for illustration purposes only. These figures are an average of several of the top companies.)
- 4-year benefit period (equal to $219,000; $150 per day X 1,460 days).
- $150 per day benefit (translates to a $4,500 per month benefit; $150 X 30 days).
- Covers all levels of care, including skilled, intermediate and custodial care and homemaker companion services.
- Covers all types of care settings; nursing homes; assisted living facilities and home health care.
- 0-day elimination period
- 5% Compound Inflation
|
| Following are the benefits listed above, ages 40 to 69. |
Following are the benefits listed above without inflation with an age range of 40 to 80+. |
| AGE |
ANNUAL PREMIUM |
| 40-49 | $1297 |
| 50-54 | $1587 |
| 55-59 | $1843 |
| 60 | $2355 |
| 61 | $2453 |
| 62 | $2556 |
| 63 | $2675 |
| 64 | $2787 |
| 65 | $3024 |
| 66 | $3363 |
| 67 | $3507 |
| 68 | $3735 |
| 69 | $3966 |
| AGE |
ANNUAL PREMIUM
(no compound inflation) |
| 40-49 | $666 |
| 50-54 | $833 |
| 55-59 | $972 |
| 60 | $1316 |
| 61 | $1371 |
| 62 | $1425 |
| 63 | $1496 |
| 64 | $1575 |
| 65 | $1860 |
| 66 | $1955 |
| 67 | $2045 |
| 68 | $2200 |
| 69 | $2355 |
| 70 | $2795 |
| 71 | $3075 |
| 72 | $3370 |
| 73 | $3816 |
| 74 | $4263 |
| 75 | $4740 |
| 76 | $5108 |
| 77 | $5683 |
| 78 | $6350 |
| 79 | $7034 |
| 80+ | $7748 |
|
|
