Monday, August 22, 2011

I'm 57 and married, how much does long-term care insurance cost?

What you pay is determined by your age, your health and how much protection you select when you apply. But, you want a bottom line. We do a Price Index study every year and someone age 55 who qualifies for preferred health and spousal discounts may pay $$709-per-year if they are married for what I'd call a base plan of protection today. That's about $115,000 in current benefits. With inflation protection coverage, that will grow to over $305,000 in 20 years. That's taking advantage of spousal and preferred health discounts.