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Sample Quotes

LTC Insurance Quick Quote

Often the first thing people want to know about long term care insurance is "how much does it cost?"

The cost of care will be based on where you live and will be a factor in how much insurance is needed. Care will cost more in New York City than in Omaha. The national average cost for long term care in 2015 is $229/day for a private room in a nursing facility (longtermcare.gov)

To get an idea of what it would cost for insurance look at your age in the chart below. The chart shows the rate for a single person. If you are married or have a partner see Discounts. This chart is not a substitute for a personal quote. To find out the actual cost for you get a quote.

The premiums shown are based on a basic policy with average benefits. You can choose entirely different benefits than the sample shown when you get a personalized quote. We also provide quotes from the top companies for life insurance with a long term care rider.

There are those who decide to self-insure. It is tempting considering the cost of insurance but there have been cases where couples have spent $1 million on their long term care. The average nursing home cost today is in the range of $80,000 a year, with 2 years of care that's $160,000 per person. If 4 years of care is needed, it's $320,000 per person. After the fact we might say that spending $20,000 would have been a small price to pay to save $300,000. The problem with insurance is that you have to buy it before you need it.

SAMPLE PLAN:
Single Person Rate
Benefit Pay Out: $3,000/month or $100 a day
Benefit Period: 24/months or 2 years
Elimination Period: 90 day
Health Rate: Standard
Inflation Protection: type indicated
No discounts. (health, marriage discounts may apply)
No riders.

Premiums may be different for your specific age, health, benefits, marital status, or state of residence.

Age - C = 3% Compound Inflation Protection
Age - X = No Inflation Protection

MALE RATES
Single Male Sample Monthly Premium
per Person
*
Age
40 C
45 C
50 C
55 C
60 C
65 C
70 C
75 C
75 X
82
90
99
108
117
154
207
325
270
.
Single Male Sample Annual Premium
per Person
*
Age
40 C
45 C
50 C
55 C
60 C
65 C
70 C
75 C
75 X
900
1000
1100
1200
1300
1700
2300
3600
3000

FEMALE RATES
Single Female Sample Monthly Premium
per Person
*
Age
40 C
45 C
50 C
55 C
60 C
65 C
70 C
75 C
75 X
127
136
145
154
297
226
307
435
325
.
Single Female Sample Annual Premium
per Person
*
Age
40 C
45 C
50 C
55 C
60 C
65 C
70 C
75 C
75 X
1400
1500
1600
1700
2000
2500
3400
4800
3600

Single women have the highest risk and the highest rates.

Partnership Inflation Protection Requirements:
Ages 18-60 –– Compound
Ages 61-75 –– Any (3% compound is cheaper than 5% simple)
Ages 76+ –– None

Discounts*
Quotes do not include couples discount. Couples discount if two apply and two are approved. If one spouse is applying or one spouse is approved the approved spouse may get a partial couples discount (not offered by all companies). In some states the couples discount also can apply to domestic partners who share expenses for at least 3 years.

  • Married 1 applying or insured (insurable) 15% discount.
  • Married 2 applying and insured 30% discount.

Health Ratings
Class 1, 2, Standard, Preferred.
Preferred health discount eligibility is determined by underwriter upon a review of application, health interview and medical records review. A high percentage of applicants are declined.

Applicants denied increases with age.
50-59 16%
60-69 24%
70-79 41%

To reduce the risk of being declined we pre-qualify your health with a few questions. Being declined by one company won't disqualify you from most other companies, they will just take a closer look at your heal

Popular Options

  • Home Care Elimination Period Waiver -This waiver satisfies the facility elimination period requirement if initial care is provided in the home for at least the first 90 days of the claim.
  • Shared Benefits for Couples. Read about this important benefit.

You can see it's cheaper to buy when younger. The risk of waiting is not only the higher premiums when you're older, you may not health qualify. The premiums will be the same from us or another agency.

The first step is to see if you qualify. We provide current quotes from all the top companies for long term care insurance including Partnership and life insurance with long term care benefits. Our advisors are here to assist you in picking the best policy for your needs and will help you with the application, underwriting and claims process.

 

Long Term Care is a family affair.

The majority of caregivers are family members.