Search thousands of topics on CostHelper

BROWSE ALL TOPICS >> babies & children  cars  consumer electronics health & personal care home & garden personal finance  pets  schools small business sports 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 Post   Comments (1)  
  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 Post   Comments (1)  
CostHelper News


7 Ways to Stretch Your Reduced Food Budget
End of the year budgets are tight for everyone, especially in this economy.It's especially hard for the millions of Americans who depend on government programs like food stamps to help make ends meet. || Posted November 11 2013


Fix-it Favorites: Duct Tape and WD-40
My mother taught me that all home fixit-projects can be accomplished with either duct tape or WD-40. If something shouldn't move and it does, use duct tape. If something should move and it doesn't, use WD-40. || Posted September 30 2013

‣ All CostHelper Blog Posts


What People Are Paying - Recent Comments
my policy
Amount: $214.00 per month
Posted by: Maxine in bethesda, MD.Posted: February 11th, 2016 02:02PM
I was 55 yrs. old when purchased.
It's a 6 yr. plan.
I am female.
Am I being overcharged?
Was this post helpful to you?   yes     no Report prohibited or spam


 

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&ov...
  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
Replace Toilet Wax Ring (DIY)
Paid: 25.00
Cost could have been cheaper, but previous owners hired a plumber and contractor who didn't do the job right. So we ran into problems. The first wax ring didn't work, so we had to buy the old fashioned type... [more]
-JT Holm
Toilet Repair Cost
Plumbing totourial
Paid: 0.00
I am appalled by some of these charges myself and yes plumbers have a hard,disgusting and exhausting job and it’s not for everyone... [more]
-Caleb Domec
Plumber Cost
Ischemic stroke
Paid: 89000.00
I had a CT scan, they called helicopter to transfer to trauma hospital in Atlanta, but neurosurgeon there said the stroke is is I n a deep area, and would be too dangerously to remove the clot surgically... [more]
-Marie-Jose
Stroke Treatment Cost
Connective tissue graft
Paid: 1300.00
Had to get a connective tissue graft for three of my teeth on my lower left and likely will need a few more done down the road (genetics). The procedure took about an hour and was pain-free... [more]
-
Gum Tissue Graft Cost
Alaska propane pricing 2020
Paid: 130.71
No contract price is $3.87 x 32.8 gallons + $3.81 fee = delivered remote Cooper Landing Alaska. New contract renewal $1.91/gallon for delivery plus propane cost which I need to check on... [more]
-Keith Mantey
Propane Cost
Funeral
Paid: 160.00
Can somebody contact me... [more]
-Terrance Samuel
Releasing Doves Cost