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&ovtac=PPC
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

Repair leaks before the rain starts pouring. Fall begins Monday, September 23. How about backpacking? Sweating college admissions? SAT test prep can reduce some of the stress of the big test. Don't leave the dancing with the stars. Take a lesson. September is Chicken Month. Have you considered raising a unique pet?

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

Teacher was recommended from the schools and D teacher was recommended from the school’s conductor Paid: 40.00 My son is in middle school and has been participating in his elementary school orchestra for two years. A lot of the kids were getting extra private lessons, and we can tell our son was a little bit behind the other students... [more] -Ed L. Violin Lessons Cost Headstone foundation only Paid: 995.00 Is this reasonable for just the foundation alone to be installed for a small market? I still have to pay for the market itself and it's installation!... [more] -D. Jackson Headstones Cost TMJ Orthotic Paid: 5500.00 Dentist made a custom made mouth guard or Orthotic on my lower teeth. It is only supposed to provide temporary relieve about 3-6 months. I have been using it for 8 months with no pain relief... [more] -Mr TMJ Treatment Cost Head Gasket Replacement Paid: 675.00 Realistically, $600-$700 is a reasonable amount depending on whether you are paying for parts and labor or just labor; and especially dependent on what other parts you are electing to replace when having the head gasket replaced... [more] -S. William Head Gasket Replacement Cost Before and after School Care Paid: 668.00 We live in the Bay area in California where everything is expensive. I am gratefull to have this so I can work... [more] -T Lawrence Before and After School Programs Cost Shingles vaccination Paid: 385.00 2019 Scripps charged over 600.00 for this. After Medicare and my part D insurance with blue Shield I paid $385.00 to Scripps. This is for the first vaccination... [more] -Edie1949 Shingles Vaccine Cost