|
|
| |
 |
|
| |
| Typical costs: | - The younger you are when you first buy a long term care insurance policy, the cheaper the premiums. A 50-year-old pays about $450-$585 in annual premiums; for a 60-year-old it runs $650-$1,070 each year; and for a 70-year-old its about $1,464-$2,191, according to the Colorado State University Cooperative Extension. The premium doesn't automatically go up as you get older, but it can increase over the years, sometimes quite sharply.
|
| What should be included: | - A type of disability insurance, long-term care insurance covers the cost of daily care for someone (of any age) with an acute or long-term illness or disability. ConsumerReports.org gives an overview, pointing out that while it can be cheaper to buy this insurance at age 40, the average age of a person admitted to a nursing home is 83. That could mean 40 years of paying premiums before benefiting from the policy.
|
| |
| Discounts: | |
| Shopping for long term care insurance: | |
| |
Article updated November 2006 |
|
|
Digg this
del.icio.us
E-mail
Post