Long-Term Care Insurance

How much does Long-Term Care Insurance cost?

Long-Term Care Insurance is not as expensive as many people think. Many options can be customized to fit your specific needs and budget. The actual cost of your coverage will depend on a number of factors, including:

• Your age when you apply;
• Your health when you apply;
• The length of time during which covered benefits would be available;
• Specific policy features, benefits and optional benefits you select; and
• Any discounts for which you are eligible.

Many people have found effective ways to pay the insurance premium, including:

• Interest from general savings;
• Dividends; and
• Annuity income.

Tip: Many companies will consider your actual age at the time of your application, while others may base their rates on your age on your nearest birthday. So if you have a birthday coming up, now is the time to apply to "save your age," which can save you premiums over the lifetime of the policy!

Many people think that they will save money on premiums if they just wait to buy Long-Term Care Insurance. This is not necessarily true. The longer you wait, the more you may pay in premiums over your lifetime.

Each year that you wait:

• The annual cost of the insurance can increase because you may have to buy a higher daily benefit due to the fact that the cost of long-term care has increased.
• You are a year older so your premium rate may increase; and
• You are at risk in the event you have a health change and cannot qualify for coverage.

This website should be considered an advertisement and is not a contract. Policies are issued by Metlife. The intent of this website is to gather consumer requests for product information, and transfer them in a timely manner to a licensed insurance representative in the state of Maryland who will contact the consumer directly regarding their specific needs.