The cost of Long Term Care Insurance policies
varies widely depending on your age and the options you choose.
However, you may find the premiums to be more affordable than
The younger you are when you get coverage,
generally the lower your premiums will be.
For instance, the Classic Select Long
Term Care Insurance policy from Genworth Life Insurance for a
couple age 45 costs significantly less than a policy for a 65-year-old
Premiums increase with age the longer
you wait to purchase.*
Certain assumptions have been made in
calculating the hypothetical illustration.
*Annual premiums are based on
a Genworth Life Insurance Company Classic Select Plan in Illinois
with $150 daily benefit, plan duration of 36 months, 90 day elimination
period, 5% compound inflation protection. Costs vary by state.
Premiums generally remain the same each
year (unless they are increased by the company for an entire
class of policyholders at once). And generally that means the
younger you are when you first buy a policy, the lower your annual
premiums will be. It's also important to apply when you're healthy,
so you can have coverage when you need it. If you wait until
you actually need long term care, you would not qualify for Long
Term Care Insurance coverage.
* Certain assumptions have been
made in calculating these sample rates which are based on a Genworth
Life Insurance Company Classic SelectSM policy issued
in Virginia with a $150 daily maximum and a Privileged Choice®
policy issued in Virginia with a $4,500 monthly maximum. Both
policies have a benefit duration of 36 months, 90 day elimination
period, 5% equal benefit inflation protection, and couples discount
of 40%. Premiums and discounts vary by state.