Costs For Long-Term Care Insurance Rise Slightly Study Finds
Costs for long-term care insurance policies rose slightly according to a just-released study by the
American Association for Long-Term Care Insurance. A 55-year-old individual can expect to
pay $723 annually for a base plan of protection.
Los Angeles, CA (PRWEB) -- Costs for long-term care insurance have risen slightly, about two percent,
compared to the prior year according to a just-concluded study.
A 55-year-old individual considering long-term care insurance protection can expect to pay $723-per-year for a
base level of protection if they are married or $1,060 if they are single according to the annual Long-Term Care
Insurance Price Index published by the American Association for Long-Term Care Insurance (
The study measured costs for top selling long-term care insurance policies that provided approximately $115,000
in current benefits, with protection increasing yearly as the individual ages. "A solid base plan of protection will
grow in value to over $305,000 of protection 20 years from now," explains Jesse Slome, executive director of the
national trade organization that conducted the annual study.
For some age bands the cost of long-term care insurance experienced a modest one percent decline compared to
the prior year, the study found. "What we did see is a far wider range of prices between insurers offering
basically the same coverage," Slome notes. According to the study, costs can vary by as much as 60 percent
from one insurer to the next. Experts advise consumers to compare policies or work with a knowledgeable
insurance professional with access to multiple insurers who can help you get the most benefit for the lowest cost.
"The cost of long-term care insurance is directly related to how much protection you purchase, the age you first
apply, your health at the time of application and assumptions that vary from one insurer to another," explains
Slome. According to the Association, over half of a