How much does long term care insurance cost?

How Much Does Long Term Care Insurance Cost?
Here Are Costs For 2018 for Leading Long-Term Care Insurers.

A MESSAGE FROM JESSE SLOME, Director
American Association for Long-Term Care Insurance

Most people want a simple answer to the question, "how much does long term care insurance cost?"

Unfortunately, there is no simple answer. But we will do our best to give you meaningful information on this webpage.

Here are a few key things I feel you should know.
1. Each insurance company sets their own rates. They can vary significantly for virtually identical coverage.
2. Different insurers offer different discounts.
3. Different insurers offer different options -- some of which can really help you reduce the cost.
4. If you take prescription medications (as most of us do) or have existing health conditions, that can impact your cost.

Let me give you just an example. This is from the Association's 2018 Long-Term Care Insurance Price Index (more examples are shown below).
Single Male, Age 55: $164,000 Benefit, NO Inflation growth
Company A: $ 835-per-year
Company B: $2,196-per-year
This is a reason we strongly urge consumers to work with a specialist who can compare the various insurers and get you the one that's best for you.

Let me give you just another example. This is also from the Association's 2018 Long-Term Care Insurance Price Index.
Couple - Both Age 65: $164,000 Benefit, 3% Inflation growth
Company C: $4,280-per-year (combined)
Company D: $8,493-per-year (combined)
 Why pay over $4,200 more EACH & EVERY YEAR?

If you have questions or would like to be connected with one (JUST ONE) designated long-term care insurance professional who can compare the leading insurers, call our offices at (818) 597-3227. We can offer general information. But no two people (or couples) are the same ... and no two financial situations exactly the same. Your long-term care plan must meet your needs and budget.

So the short answer to "How much does long-term care insurance cost?" is "It depends!" It depends on how much protection you buy. It depends on the age when you apply and your health when you apply. It even depends on which insurance company you get rates from.

If you don't want to keep reading, we also posted 3 brief informative videos worth watching.
Get no-obligation and free rates and quotes for long-term care insurance from a designated Association member. Click here to complete our simple online questionnaire or call the Association offices at 818-597-3227.

Three Brief Videos For Consumers


Click the ARROW. Click the FULL SCREEN button to enlarge. Click ESC button to shrink.

Find The Best Cost For Long-Term Care Insurance     (7m 28sec)


For Women Who Are Single, Some Important Information (9m 56s)


Quick Tips To Compare Long Term Care Insurance Policies (1m 41s)

back to top

The Cost Difference Between An Agent And A Broker

Here's a fact consumers often don't know.

Some insurance agents only represent one insurance company . They are "agents" of that particular company, such as New York Life, Northwestern Mutual, State Farm or Bankers Life and Casualty. As such, they may only be able to offer you one company's policy. Now, it may indeed be the best protection for the best cost -- but you'll have to do the comparison shopping yourself.

Insurance brokers represent multiple companies and those who regularly sell long-term care insurance will be able to compare prices and benefits from multiple insurance companies. Simply stated, they will do the shopping and comparison for you. A good broker will help you get the best rate (or cost) for the best available coverage.

back to top

Are There Ways To Reduce The Cost?

Yes, there are many discounts available that you can benefit from.

And, guess what. The discounts vary from one insurer to another. One more reason it pays (or saves) to work with a knowledgeable long-term care insurance professional who knows more than one insurance company's rules.

We have a great guide on our website that highlights various discounts.
Click here now read the free guide.

If you don't want to keep reading,
Get no-obligation and free rates and quotes for long-term care insurance from a designated Association member. Click here to complete our simple online questionnaire or call the Association offices at 818-597-3227.

back to top

What Questions Should I Ask During My First Call With An Agent?

Here are a basic questions to ask when screening a potential insurance professional.

How many years have you been licensed to sell long-term care insurance?
How many long-term care insurance companies are you appointed with?
Are any of your clients receiving benefits from their long-term care insurance policy?
Will you tell me rates even I decide not to buy?
Which insurance company did you use for your last two policy sales and can you tell me why you recommended that company?

back to top

What If I Have Some Health Conditions Or Take Some Medications

After age 50, most men and women have some health conditions and take one or more common prescription medications. If you are in perfect health, every insurer will be very glad to offer you coverage with preferred health discounts (only available for non tobacco users).

But if you have some health conditions or take common prescription medications, you'll want to speak with that knowledgeable long-term care insurance professional. Because each company sets their own acceptable health conditions. You want your insurance broker to "shop your health" to get you the best coverage for the best cost.

back to top

Connect With The Association's Designated Long-Term Care Insurance Professionals

If you have a relationship with a financial planner or other insurance professional, you can ask them to compare the group or employer long-term care insurance program with individual long-term care insurance. There should be no charge for this comparison.

Or, if you prefer, a designated member of the American Association for Long-Term Care Insurance will gladly do a comparison of benefits and costs for you.

Call or Use The Association's Online Request-A-Quote Form
Call the Association offices at (818) 597-3227 and our staff will gladly assist, or,
Complete our online free request for a rate quote. There's never any obligation. Click here now to start the process.

back to top

Long-Term Care Insurance Company Ratings

Check the American Association for Long-Term Care Insurance's current listing and ratings for leading long-term care insurance companies.   Click here to see ratings for leading long-term care insurance companies   Important information in your decision-making process.