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Re: Long Term Care insurance policies cost

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

 

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Re: Long Term Care insurance policies cost

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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.

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Re: Long Term Care insurance policies cost

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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.


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Long Term Care insurance policies cost

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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.

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