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Info Seeker
Posts: 2
Registered: ‎02-06-2016

Re: Long Term Care insurance policies cost

Message 1 of 4 (228 Views)

Can I ask how old both you and your wife are?

 

Bronze Conversationalist
Posts: 24
Registered: ‎04-06-2013

Re: Long Term Care insurance policies cost

Message 2 of 4 (247 Views)

Consider yourself very lucky.  Last year UNUM tried to increase our LTC premium by 280%!  This is after a 20% increase in 2008 and a 30% increase in 2011 (we took out the policy in 2005).  Our policy had a 5% compound inflation rider but they offered to keep the premium the same (ie no 280% increase), if we reduced our inflation coverage to 3%.  My wife and I are now paying $1500 a year each.

Trusted Social Butterfly
Posts: 7,012
Registered: ‎02-14-2008

Re: Long Term Care insurance policies cost

Message 3 of 4 (263 Views)

Is this a relatively standard price?  The policy does have a built-in Cost of Living Adjustment Rider.

 

Based on the costs I have seen, you're paying a lot less than other policies costs.  It's difficult to say because we would have to know exactly what kind of coverage you have and compare it to other companies. You can find that info online.


“The world is a book. Those who do not travel read only one page.”
Info Seeker
Posts: 2
Registered: ‎02-06-2016

Long Term Care insurance policies cost

Message 4 of 4 (296 Views)

Both my husband and I have long term care insurance through Prudential. For the past 3 years they have raised the premiums 11.8% per year. We will be paying $1,200/yr for my husband's policy - he is 68 yrs old.

 

Is this a relatively standard price?  The policy does have a built-in Cost of Living Adjustment Rider.