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
Brazillian Knot
Paid: 275.00
I tried brazillian knot for the first time and it hurt soooo bad!!!! Never Again!!! I had to cut them out right away. I kept them in for 2 days and then that was it, I could not take it... [more]
-annejevas2
Hair Extensions Cost
Sleep Study
Paid: 6400.00
Wow what a rip off will never go to that hospital again. I will go shopping for my next procedure... [more]
-
Sleep Apnea Treatment Cost
Cost of a deck
Paid: 5000.00
I was wondering if I paid to much for my 10X25 rectangle deck with treated wood? It has 3 stairs about 3 feet in width and 25 feet of railings... [more]
-LB
Deck Cost
Rabbit costs
Paid: 10.00
The dwarf cross, Sunday(male, neutered) was a CL freebie. Womans cat brought 2 approx 3-4 wk old babies, dont know where mother was. He was soooo tiny, dehydrated, & a bit cold... [more]
-shawnna Stone
Rabbit Cost
MRI FH Outpatient/CT FH Outpatient
Paid: 319.80
MRI Amount billed by hospital $9025.82!!!!!January 2014CT FH- outpatient - billed $5146... [more]
-Janie D
MRI Cost
Is my pricing high?
Paid: 1400.00
Just saw the dentist today. Informed I am in need of two extractions and two bone graphs. My insurance does not cover bone grafts... [more]
-
Dental Bone Graft Cost