Search thousands of topics on CostHelper.com

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


Forgotten Expenses In a Home Addition Budget
Items like construction costs, permit fees or debris removal aren't the only expenses to consider when calculating the total costs of a home remodeling project. || Posted August 5 2013


And the Best Bacon Is...
This little piggy went to market.After that, Consumer Reports bought samples and tasted to determine which little piggy offered the best bacon.Top honors go to Costco, it turns out. || Posted October 5 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&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
Replace leaking supply line40' w/copper from meter to house
Paid: 2150.00
Water supply line leaking, need dig trench, 40' Type L copper pipe. 1st plumber quote $6500. Did some research, 2nd quote is $2150. Depth by city code 16 - 18", both licensed, guarantee 1 year... [more]
-Meeept2000
Replacing Copper Pipes Cost
About to start babysitting
Paid: 6.00
I’m about to start babysitting for their first time ever (for pay) and I was wondering if my pay was too high or too low. Tha family has two boys, a ten year old and an eight year old... [more]
-
Baby Sitter Cost
cost of ear drops
Paid: 67.00
I was prescribed antibiotic drops for an ear infection. Went to pick up at Walgreen's and declined due to price of $219. I asked the medical facility to send prescription to Costco. Picked it up there for $67... [more]
-jeffo
Ear Infection Cost
Be aware
Paid: 0.00
Be aware that many of the listed locksmiths are a call service and many of them are in another state. Some even try to pass as other businesses. Academy lock is a thief and abuses they employed too. There are many... [more]
-Martin Y.
Locksmith Cost
Deep cleaning
Paid: 9999.00
As a dental hygienist with 22 years experience, I can tell you “DEEP CLEANING” is not a SCAM! 1st and foremost remember your insurance coverage is to assist with treatment payments... [more]
-Tasha Nicole
Teeth Cleaning Cost
04 Nissan Sentra
Paid: 120.00
I had one key for the car I just bought a few months back, well... While I was closing the front door to my house my key was caught and severely bent, I tried to gently tap it back straight but needless to say it snapped in half... [more]
-Mz Sentra
Key Copy Cost