| Many people decide against long-term care | | | | insurance premiums or prevent you from |
| insurance under the misguided assumption that | | | | obtaining long-term care insurance altogether. |
| they can't afford it without actually finding out | | | | As with all types of insurance it is a good idea to |
| how much long-term care insurance costs. | | | | shop around as the cost of long-term care |
| Admittedly the cost of long-term care insurance | | | | insurance can vary by several hundred dollars at |
| does rule out insuring against the cost of | | | | the age of 50 and as much as $700 or more if |
| long-term care for some lower income families | | | | you take a policy out twenty years later. |
| but if long-term care insurance is taken out early | | | | At the age of 50, depending on your state of |
| enough the cost is well within the reach of the | | | | health you should be able to get long-term health |
| majority of the American population. | | | | insurance for around $400 - $500. If you wait until |
| Long-term care insurance costs vary dramatically | | | | you are 60 the cost of you long-term health |
| with one of the most significant factors being at | | | | insurance will increase with premiums more likely |
| what age you take out your long-term care | | | | to start at around $700 - $800 if you are in good |
| policy. | | | | health. The older you get the greater the risk that |
| Other notable influences on the cost of long-term | | | | you will not be accepted but, if at the age of 70, |
| care insurance are your state of health at the | | | | you are still a viable option for long-term care |
| time you apply, the period of time the policy is | | | | insurance the annual cost will probably be more |
| too cover and the level of long-term care | | | | than double the cost of a 60 year old at around |
| benefits that you choose to select. | | | | $1,600 to $2,000 or more. |
| Applying for long-term care insurance is something | | | | If you consider the total cost of long-term care |
| that many people put off for many years | | | | insurance, just until the age of 80 (and for many |
| believing that the longer they wait the more | | | | this won't be old enough) policies taken out at the |
| money they will save. This is a total | | | | age of 50 will cost you significantly less than |
| misconception given the fact that long-term care | | | | those taken out at 60. With the three quotes I |
| insurance costs increase sharply with some | | | | reviewed the difference ranged between 7% and |
| companies almost doubling the annual cost of their | | | | 22%. Taking out long-term care insurance another |
| long-term care insurance between the age of 50 | | | | ten years later resulted in a further increase of |
| and 60. | | | | 11% - 16%. |
| Each year that you wait before taking out | | | | If you consider the cost of long-term care which |
| long-term care insurance is likely to result in an | | | | could stretch to more than $50,000 per annum in |
| increase in annual premiums. In addition, the older | | | | some instances, long-term care insurance could |
| you are the higher the risk of developing health | | | | prove to be an excellent investment for the long |
| problems that could increase the cost of your | | | | term. |