The Cost of LTCI

What Does Long Term Care Insurance Cost?

Estimated premiums of long term care insurance (LTCI).

Below you will find a chart that will allow you to estimate monthly premiums based on your age at the time of application for LTCI.

Premiums quoted are based on specific criteria and a preferred health rating (see information below chart for criteria). For a similar rate comparison customized to your situation (health, marital status, etc.), please contact LTC Connects.


Monthly Premiums (see criteria below)

Genworth
John Hancock
Transamerica
Mutual of Omaha
Age 50
$206.78 $259.33 $297.67 $262.15
Age 55
$217.56 $290.49 $317.63 $288.72
Age 60
$275.56 $345.77 $387.90 $329.41
Age 65
$387.06 $450.31 $532.45 $403.71
Age 70
$540.96 $629.23 $760.41 $516.08

 


Criteria for monthly premiums

The premiums are based on the following client scenario for each age:

  • Inflation protection of 3% compound or CPI*.
  • Monthly benefit of $3,000.00.
  • Pool of money of $180,000.00.
  • Benefit period of 3 years.
  • Deduction period of 90 days**.
  • Discounts of
    • Preferred health***.
    • Spousal/Partner.

*Quotes are based on 3% compound inflation except for John Hancock (CPI).
**Deductible Periods are based on 90 days, except for Transamerica which comes with a 0 day deductible for home care.
***Premiums may vary by state, and are based on a Preferred underwriting class and include a 30%-40% couples discount based on two applicants (partners and spouses) both applying and being approved for LTCI coverage.

Additional notes

  • Premiums are based on information available from the long term care insurance carriers as of February 11, 2014.
  • Premium rates are subject to change.

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