Long Term Care Insurance Cost

• 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.

• 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.

• The Insurance Information Institute^[2] offers tips for cutting premiums costs.

• 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.

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&ov...
4.  www.naic.org/state_web_map.htm

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?

Today's Featured Cost Articles

The hot summer weather has started. How much does central air conditioning cost? We give our advice on where to buy Purell and hand sanitizers. Looking for an indoor pet? Usage of streaming services is skyrocketing. We list the current deals. Staying cool during the summer also means on the road. We cover the cost of car air conditioning.

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

economics Paid: 200.00 ... [more] -rishabh sharda Summer School Cost Cost of painting a car Paid: 1500.00 I've been doing body work and painting cars for nearly 40 years and watch the cost of paint and materials increase drastically. The old saying you get what you pay for absolutely applies to painting a car... [more] -D's Nutz & Bolts Auto Painting Cost Bookkeeping,Payroll,legal issues for llc, and tax prep Paid: 400.00 new business looking for bookkeeper, tax prep , and knowledge of LLC regulations and required tax forms sent out for states requirements (Arizona)... [more] -Bonnie Rose (Owner)/A.Freeman Bookkeeper Cost Clearing land and debi Paid: 300.00 Burnt trailer needs bee tore down and drive way needs to be pushed some trees has falling down... [more] -Jewel singletary Backhoe Cost 1 hour later, no results, no Paid: 1956.00 I was charged already by University Physician Group:$190 for Spiromatry$40 for the test$30 for CO2 Diffuse CapacityI spent $40 on the copayI was later sent a bill for $1,956 additional directly from the hospital and not insurance paid... [more] -Robby E. Pulmonary Function Test Cost Foundation Repair Paid: 22250.00 1800 Sq ft house, 1 level:Diagonal cracks in brick all around the house; exterior right front wall of attached garage appeared to have heaved; patched interior walls were revealed as cracks after purchase; door casings separated at top corn... [more] -Cheney Foundation Repair Cost