While it would be great to prepare for 100% coverage at your time of a long term care need, there is no way to know what that amount is
Portland, OR (PRWEB) June 30, 2015
When it comes to long term care insurance, some is better than none, according to Nathan Sanow, Executive Director and co-founder of LTC Consumer https://www.ltcconsumer.com. “While it would be great to prepare for 100% coverage at your time of a long term care need, there is no way to know what that amount is, and if you do prepare for the worst case scenario, you may not be able to afford the policy.”
Many features within a long term care insurance plan will change the price, such as whether one receives their money in daily or monthly installments, waiting period, inflation growth option, what level of home care that will receive and other add-ons. By focusing on one feature, such as the benefit amount, a person can easily get the price under $100/month per person.
A 55 year old married couple with a standard health rating can get policies for under $200 per month (combined premium) with at least $150,000 pool of money, 3% compounding inflation, a 90 day waiting period and shared care. At the same price point, a 45 year old couple would get a larger pool of money of $187,000. Sanow says, “The older couple, the smaller the benefit pool for the same cost, but they still have a solid policy in place and have taken the steps to plan for a long term care event.”
Before speaking to someone who specializes in long term care planning so they can customize a plan to fit your specific needs, please utilize our Long Term Care Insurance Quoting Tool at no cost by visiting LTCConsumer.com https://ltcconsumer.com.
LTC Consumer is an independent free online service for information on long term care insurance, whose website offers education on what long term care insurance is, when to buy it, and how much it costs – all without having to speak to a commissioned sales agent. Users can choose to be put into contact with a professionally licensed LTC Consumer specialist who can answer questions, help them with the process of evaluating specific policy features and carriers, and assist them in completing an application.