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

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