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Bronze Conversationalist

Re: Long Term Care insurance policies cost

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Message 21 of 23

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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Trusted Social Butterfly

Re: Long Term Care insurance policies cost

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Message 22 of 23

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.


Just think. The world was built by the lowest bidder.
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Info Seeker

Long Term Care insurance policies cost

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Message 23 of 23

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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