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2007 Long-Term Care Insurance Price Index Announced

  • November 22nd, 2013

A 55-year-old individual considering long-term care insurance protection can expect to pay $665 a year if they are married or $1,075 if they are single according to the 2007 Long-Term Care Insurance Price Index, an annual report from the American Association for Long-Term Care Insurance, an industry group.

A 65-year-old purchasing comparable coverage will pay $1,292 (married) or $1,923 (single) according to the report,. Costs are roughly the same as the prior year, the Association said.

Local Elder Law Attorneys in Ashburn, VA

Jeffrey Hammond

Hammond and Associates, LLC, Elder Law, Estate Planning, Wills, Trusts, Probate
Bethesda, MD

Margaret O'Reilly

Margaret A. O'Reilly, PC
Herndon, VA

Samantha Fredieu

Hale Ball Carlson Baumgartner Murphy PLC
Fairfax, VA

The annual index measures current costs for top-selling long-term care insurance policies that offer the ability to receive care either at home or in a skilled care facility. The index compares costs for plans that provide benefits for 3 years, which increasingly is accepted by industry experts as a basic level of protection for many, according to the Association. The study priced plans that provide $110,000 or $172,000 in current protection ($100/day and $150/day for 3 years) for someone age 55. Benefits increase at five percent compounded annually.

For the complete 2007 price survey, click on the "Document Source" link below.


Last Modified: 11/22/2013

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