According to the 2012 National Long Term Care Price Index, the average cost for a Long Term Care policy with a daily benefit of $150, a three year benefit period, and a 3% compound inflation rider is as follows:
Single person age 55 - $2,007 per year
Couple age 55 - $2,466 per year (total for both spouses)
Couple age 60 - $3,381 per year (total for both spouses)
Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
Your personal information will be underwritten generating an offer or declination from the insurance company. Your gender, age, smoking status, health history and current health condition all contribute to your offer. After the insurance company's offer, you'll need to assess if the premium is affordable or not. A non smoking, male age 60 with standard health may pay $300 a month for full coverage with an inflation rider.
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Single person age 55 - $2,007 per year
Couple age 55 - $2,466 per year (total for both spouses)
Couple age 60 - $3,381 per year (total for both spouses)