What Can You Expect Insurance For Long Term Care To Cost You?

Before we get into the cost of long term care insurance, let's look at some statistics:

 12 million people currently receive long term care

 82% are cared for at home or in Assisted Living
 Only 18% are in nursing homes
 39% of those needing long term care are aged 18-64

Consider the average length of care:

 Nursing home - 2.4 years
 Home health care - 4.5 years
 Life span of an Alzheimer's patient - 4.9 years

Current long term care costs* (based on national averages and could be lower or higher depending on where you live)
 Home Health Care - $18/hour = $66,000/year
 Assisted Living - $85/day = $30,288/year
 Adult Day Care - $55/day = $20,075/year
 Nursing Home - $192/day = $70,080/year

Cost for long term health insurance varies by state. However, in a major study of the cost of long term care
released in 2006, nationally, the average cost of a private room in a nursing home was over $70,000.00 annually.
Assuming a 5% rate of inflation in long-term care costs, these numbers will triple over the next 20 years. Yikes.

Below you will find a chart that will allow you to estimate monthly premiums based on your age at the time of
application for long term care insurance coverage. Premiums quoted are based on specific criteria and a
preferred health rating. For a similar rate comparison customized to your situation (health, marital status, etc.),
contact a long term care insurance specialist.

John MetLife Prudential Allianz Great America

Hancock
Age 50 $153.95 $140.59 $134.01 $143.28 $148.59
Age 55 $165.68 $152.22 $159.08 $150.86 $170.28
Age 60 $204.90 $180.83 $188.82 $184.66 $197.10
Age 65 $254.30 $257.58 $251.60 $246.96 $235.18
Age 70 $382.12 $382.32 $378.60 $366.63 $310.11

*Deduction Periods vary, and are based on Great America and MetLife at a 100 day deduction period, and John
Hancock, Prudential and Allianz at a 90 day deduction period.
**Premiums may vary by state, and are based on a Preferred underwriting class and include a 30% couples
discount based on two applicants (Partners and spouses) both applying and being approved for LTCI coverage.
***Premiums are based on information available from the long term care insurance carriers as of November
2007. Premium rates are subject to change.

LTC Connects takes a different approach to long term care. Our goal is to connect you with
information so you can best decide if insurance for long term care makes sense for you, whether
you are an individual, small or large business. Visit http://www.ltcconnects.com/ to learn more
about LTC and to find a long term care insurance policy that is customized to fit your needs.