Search thousands of topics on CostHelper.com

BROWSE ALL TOPICS >> appliances babies & children  cars  consumer electronics health & personal care home & garden personal finance  pets  schools small business weddings
CostHelper > Personal Finance  > Insurance > Long Term Care Insurance

Long Term Care Insurance Cost


How Much Does Long Term Care Insurance Cost?

 
low costLow: $400/yearhigh costHigh: $1,000+/year
post E-mail post Post  
  Typical costs:
  • The younger you are when you first buy a long term care insurance policy, the cheaper the premiums. A 50-year-old pays about $450-$585 in annual premiums; for a 60-year-old it runs $650-$1,070 each year; and for a 70-year-old its about $1,464-$2,191, according to the Colorado State University Cooperative Extension[1] . The premium doesn't automatically go up as you get older, but it can increase over the years, sometimes quite sharply.
Related articles: Health Insurance, Life Insurance, Disability Insurance

What should be included:
  • A type of disability insurance, long-term care insurance covers the cost of daily care for someone (of any age) with an acute or long-term illness or disability. ConsumerReports.org gives an overview, pointing out that while it can be cheaper to buy this insurance at age 40, the average age of a person admitted to a nursing home is 83. That could mean 40 years of paying premiums before benefiting from the policy.
Discounts:
  • The Insurance Information Institute[2] offers tips for cutting premiums costs.
Shopping for long term care insurance:
  • The Consumer Law Page has a detailed guide for avoiding fraud when buying long term care insurance.
  • ConsumerReports.org charts the circumstances making this type of insurance a good idea and when it might be better to skip it.
  • Insurance-e-quote.com[3] gives multiple online quotes.
  • Get a list of registered insurance companies from your state insurance commissioner. The National Association of Insurance Commissioners provides links to these state offices[4] and a way to search for financial details and complaint histories for specific companies.
post E-mail post Post  
CostHelper News


3 Ways to Have the Government Pay You Back for Your Energy Efficient Upgrades
Any renovations or upgrades made to your home this year that included energy-efficient appliances could be eligible for some federal energy tax credits. But it's not just appliances. || Posted December 9 2013


7 Lesser-Known Discounts for the 50+ Crowd
As they age, members of the Baby Boomer generation don't like to admit that they're senior citizens, but they love getting discounts. It's kind of a quandary, because some of the best deals available are reduced prices for older folks. || Posted October 21 2013

‣ All CostHelper Blog Posts


What People Are Paying - Recent Comments


 

Comment On Your Experience With Long Term Care Insurance
 
Subject:  *
Amount Spent:  * per month
Comments: 
Purchased:  Year: 
City:  * State:  *
 
Information about you:
Email:  * Email addresses are not displayed.
Name:  This is the name we'll display with your post.
me on this computer
*=required field.
 



External Resources:
  1.  www.ext.colostate.edu/PUBS/consumer/09152.html
  2.  www.iii.org/individuals/longtermcare/how_can_i_buy/
  3.  www.insurance-e-quote.com/?ovch=GGL&ovcpn=quotes&ovcrn=long+term+care+insurance&ovtac=PPC
  4.  www.naic.org/state_web_map.htm
More Personal Finance Topics
Check Out All Costs for Personal Finance How Much Does a Traffic Ticket Attorney Cost? How Much Do Funeral Flowers Cost? How Much Do Tax Returns Cost?

Search Thousands of Topics on CostHelper.com



Today's Featured Cost Articles

About CostHelper
CostHelper is based in Silicon Valley and provides consumers with unbiased price information about thousands of goods and services. Our writers are experienced journalists who adhere to our strict editorial ethics policy.

CostHelper Community
$100 fee to install
Paid: 100.00
Third Delco battery to die within warranty. Local Buick dealer replaced battery free but charged $100 to install. Warranty service with Gm/Delco is generally vague and unclear... [more]
-Bob Deals
Car Battery Cost
Did I overpay?
Paid: 550.00
For that price what should they be made of? I probably should have researched it prior..... [more]
-joebeca
Night Guard Cost
Getting Crazy Quotes for Replacing 3 Ton Gas Pack
Paid: 6200.00
Help. need to consider replacing builder installed HVAC unit (Carrier) Have 1130 sq. ft. Need 3 ton unit (or so I have been told) nothing fancy..just good, basic energy efficient system. One bid for an Amer... [more]
-Zan King
Central Air Conditioner Cost
front- piston, caliper, rotors (brake job), And radio job
Paid: 480.00
i bought my car for $1600 and the brakes would not stop immediately when applied. I took it to this shop and they replaced the piston, the caliper, and the rotors for $300... [more]
-Cassy
Brakes Cost
large beech tree 75'
Paid: 1200.00
Amazing company had a 75 foot tree cut down and hauled away in 5 hours even left some fire wood and split it for us at no cost!! Total job price was only 2800 with 2 smaller trees and all stumps ground... [more]
-Joel kenneth
Tree Removal Cost
Annual Termite Program - Terminex
Paid: 213.00
The price has jumped up every year since Terminex took over from Western Pest control. This seems very high and I am considering a change. Looking for a more economical approach... [more]
-Steven R. L.
Termite Control Cost