How Much Can I Expect To Pay?
The price of long-term care insurance varies greatly, depending on your age, benefits you choose, and the
underwriting company. While you may not want to buy the most expensive plan on the market, history has shown
that you should be wary of low-cost plans. Since rates on long-term care insurance products are not guaranteed,
some companies may offer a lower price now - only to raise the premiums later according to policy provisions.
You should always examine the financial standing, ratings, and rate history of any company offering these products,
and make sure you are dealing with a reputable company that may be less likely to raise your premiums.
Am I Too Young To Think About Long-Term Care Insurance?
Long-term care insurance makes as much sense for people in their forties and fifties,
as it does for people who are retired. Here's why:
- The High Cost Of Waiting: Like life insurance, the premiums on long-term care insurance policies are based in part on your age at the time of purchase, and are therefore generally less expensive the earlier you buy.
- Higher Likelihood Of Un-Insurability: The longer you wait to secure coverage, the greater the chance that a health problem may develop that could make your coverage more expensive - or difficult to obtain.
- An Early Need: Accidents and illnesses can occur at any time, at any age, to anyone. It's important to have your plan in place before the unexpected happens.
Long-Term Care Insurance Make Sense For:
- Working families who want to protect their lifestyle and assets.
- Retirees & pre-retirees who want to preserve their nest egg and financial independence.
- Concerned parents who don't want to become a physical or financial strain to their children.
- Adult children who want to make sure their elderly parents receive the quality care they deserve.
- People who want to take control of their future.
