Long Term Care Insurance Costs, Companies and Quotes

Long Term Care Insurance

Call us: 800-510-8810

  • Home
  • About Long Term Care
    • Long Term Care Planning
    • Cost of Long Term Care
    • How LTC Insurance Works
    • Long Term Care Annuities
    • Life Insurance with Long Term Care Rider
    • 1035 Exchanges and Hybrid LTC Insurance
    • LTC Insurance Costs
    • LTC Insurance Tax Deductions
    • LTC Insurance Reviews
  • LTC Quotes
    • LTC Insurance Quotes
    • Hybrid Long Term Care Insurance Quotes
    • AARP LTC Comparisons
    • USAA LTC Insurance Quotes
    • CalPers LTC Comparisons
    • Arizona LTC Quotes
    • California LTC Quotes
    • Florida LTC Quotes
    • Indiana LTC Quotes
    • Ohio LTC Quotes
    • Oregon LTC Quotes
    • Texas LTC Quotes
    • Utah LTC Quotes
    • Washington LTC Quotes
  • Your State
    • Western States LTC Insurance
      • California LTC Insurance
        • Fresno County LTC Insurance
        • Kern County LTC Insurance
        • Los Angeles County LTC Insurance
        • Orange County LTC Insurance
        • San Diego LTC Insurance
        • San Francisco LTC Insurance
        • San Jose LTC Insurance
        • Santa Barbara LTC Insurance
      • Colorado LTC Insurance
      • Hawaii LTC Insurance
      • Idaho LTC Insurance
      • Montana LTC Insurance
      • Nevada LTC Insurance
      • Oregon LTC Insurance
        • Portland LTC Insurance
      • Utah LTC Insurance
      • Washington LTC Insurance
        • Seattle LTC Insurance
      • Wyoming LTC Insurance
    • Southwest States LTC Insurance
      • Arizona LTC Insurance
      • New Mexico LTC Insurance
      • Oklahoma LTC Insurance
      • Texas LTC Insurance
        • Dallas LTC Insurance
        • Houston LTC Insurance
    • Midwest States LTC Insurance
      • Illinois LTC Insurance
      • Indiana LTC Insurance
      • Iowa LTC Insurance
      • Kansas LTC Insurance
      • Michigan LTC Insurance
      • Minnesota LTC Insurance
      • Missouri LTC Insurance
      • Nebraska LTC Insurance
      • North Dakota LTC Insurance
      • Ohio LTC Insurance
      • South Dakota LTC Insurance
      • Wisconsin LTC Insurance
    • Northeast States LTC Insurance
      • Connecticut LTC Insurance
      • Delaware LTC Insurance
      • Maine LTC Insurance
      • Massachusetts LTC Insurance
      • New Hampshire LTC Insurance
      • New Jersey LTC Insurance
      • New York LTC Insurance
      • Pennsylvania LTC Insurance
      • Rhode Island LTC Insurance
      • Vermont LTC Insurance
    • Southeast States LTC Insurance
      • Alabama LTC Insurance
      • Arkansas LTC Insurance
      • Florida LTC Insurance
      • Georgia LTC Insurance
      • Kentucky LTC Insurance
      • Louisiana LTC Insurance
      • Maryland LTC Insurance
      • Mississippi LTC Insurance
      • North Carolina LTC Insurance
      • South Carolina LTC Insurance
      • Tennessee LTC Insurance
      • Virginia LTC Insurance
      • West Virginia LTC Insurance
  • Life Insurance
  • Group LTC Insurance
  • About Us
    • For LTCi Consumers
    • For Agents – General Agent Appointments
    • Craig Matesky, President
    • Contact Us
  • Blog

TRUSTED INSURANCE CARRIERS

Mutual of Omaha long term care insurance quote.
Transamerica retirement planning.
Nationwide insurance for long term care.
OneAmerica long term care insurance and retirement planning..
Minnesota life insurance from Securian Financial.
Lincoln Financial MoneyGuard long term care insurance.

January 24, 2018 by LTC Insurance Consultants

Long Term Care Insurance Costs And Benefits Review

The Real Cost of Long Term Care

The aging of America is costly on the emotions of the elderly and their families. In addition to this emotional cost, long term care costs strongly affect the wallets of American families. According to national long term care statistics, almost 10 million Americans need long term care services. Thirty seven percent of those are under the age of 65 and that number is expected grow to 12 million by the year 2020.

Long term care costs and information on long term care insurance.

Long term care costs are also rising. A recent Fidelity Investments study indicates that a couple retiring at age 65 in 2015 will need $240,000 just to cover their medical expenses in retirement. This is a 4 percent increase over their last study.

Looking at unpaid long term care costs of caregiving provided by friends and family gives a more realistic look at long term care costs. According to AARP estimates, unpaid caregiving provided in 2009 totaled $450 billion worth of long term care costs.

Long Term Care Costs

Genworth Financial and other insurance carriers like John Hancock Life Insurance Company conduct extensive annual surveys on long term care costs. Here are some of their findings from their most recent 2017 study: A private room in a nursing home now costs $97,455 per year and in 16 states the cost exceeds $100,000. The average for an Assisted Living Facility is $45,000 and for a Home Health Aide it’s $49,192 per year.

Long Term Care Insurance

By 2010 only about 9 million Americans were protected with long term care insurance. Some people cannot qualify based on health conditions, some are too old to qualify, others simply have not planned ahead or perhaps they are planning to pay long term care costs out of pocket. Others may not have assets to protect or cannot afford the premiums. According to the U.S Department of Health and Human Services, the average annual premium for long term care insurance, covering almost 5 years of benefits is $2,207.

Long Term Care Planning

For Americans with at least $250,000 of assets, it’s critical to plan ahead for long term care costs. Have the conversation while you’re in good health and ideally in advance of retirement. What’s the best age to purchase long term care insurance? Many financial advisers recommend obtaining coverage while in your late 40s or 50s. Planning early makes sense because long term care insurance is more affordable at younger ages. It’s also much more likely a person can health qualify for long term care insurance. While many health conditions are insurable, many more will disqualify a person from buying protection at any price.

Filed Under: Long Term Care Costs, Long Term Care Insurance General Blog, Long Term Care Insurance Premiums, Retirement Planning Tagged With: acacia insurance services, cost of long term care, long term care, long term care costs, long term care insurance, long term care insurance companies, long term care insurance premiums, long term care planning, retirement planning

Get Your Long Term Care
Quotes and Planning Guide! Complete this form to receive your
Free quotes and Planning Guide.

    * Full Name

    * Email Address

    * Phone Number

    * Age(s)

    * State

    * Zip Code

    Other Details (optional)


    You may also call our offices and one of our licensed professionals will answer your questions. Call: 800-510-8810

    Free Long Term Care Planning Guide

    Free long term care insurance buyer's guide. Download this LTC Planning Guide with your request. You'll learn more about the options available to protect your assets and family!
    ©2021 - Acacia Insurance Services, Inc - All Rights Reserved.
    Privacy Policy