Cost of Long-Term Care & Long-Term Care Insurance

Average Cost of Long-Term Care

The cost of long-term care services continue to be on the rise, the average cost of nursing home care has increased 4.5% annually over the last 5 years. While home health care has remained about the same over the past 5 years with only a 1.7% annual increase. Below are some more finding from the Genworth 2010 Cost of Care Study.

Cost of Long-Term Care Insurance

Long-term care insurance premiums are like any other insurance that you may have purchased, the premiums will greatly depend on the type of policy you decide to purchase, the benefits that you choose, any discounts that may receive (martial, good health, etc.) and your age at the time you purchase the policy (the younger you are the lower the premiums will be).

As mentioned in the what is long-term care insurance section of this website, most long-term care insurance policies are comprehensive which simply means that they will typically include home health care, nursing home care, assisted living, adult day care, etc. The benefit levels will impact the cost of a long-term care insurance policy, click here to learn more.

Premiums will typically remain the same each year unless the long-term care insurance carrier has a rate increase for the entire class of policyholders at the same time. LTC Insurance carriers cannot just increase your individual premiums for whatever reason.

To speak to a representatives about pricing, complete the inquiry form.

LTC Solutions - 3501 Del Prado Blvd. Unit 202 Cape Coral, FL 33904. LTC Solutions for consumers provides long-term care insurance quotes and product information from a long-term care insurance expert for many of the leading LTC insurance carries.

This website should be considered an advertisement, not a contract. The intent of this website is to gather information from the inquiry request and then contact the consumer to go over their specific needs. George Mellendorf, owner of LTC Solutions is licensed in all 50 states.