This is part 4 of a discussion we’re having on a series of videos provided by Kiplinger’s Long Term Care Center. Previous entries included:
We’re going to keep this discussion short and to the point. If you’re looking into insurance for long term care, there are really TWO major factors that will impact long term care insurance costs. They are:
Age – how old are you when you purchase a policy?
Health – how is your health when you purchase a policy?
Of all the factors that influence LTC insurance costs, these two will, in most cases, have the largest impact on what your premiums will be. Yes, there are other factors, such as the elimination period and daily benefits. And there are ways to get discounts as well, including:
- Spouse / Partner – Savings up to 40%
- Preferred Health – Savings up to 20%
- Increase your Deducible – Save up to 10%
- Small Business – Save up to 5%
- Buy Before an Age Change – Savings of 5-10%
To give you an idea of how age can save you hundreds of dollars a month, try our unique long term care insurance costs calculator
Get a An Estimate of Long Term Care Insurance Costs By Clicking Above
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