How Long Will Long-Term Care Insurance Cover Expenses?

When you’re looking into long-term care insurance, either for yourself, aging parents, or friends, you may have a lot of questions. It’s good to have questions and remember, the only ridiculous question is the one you fail to ask.

Long-Term Care Insurance Quote San Diego CA - How Long Will Long-Term Care Insurance Cover Expenses?

Long-Term Care Insurance Quote San Diego CA – How Long Will Long-Term Care Insurance Cover Expenses?

Long-term care insurance can be a powerful asset in helping people protect their financial investments, savings, and quality of life. You may not think there is a very real possibility you or a dependent requires long-term care in the future, but as people live longer, the likelihood of requiring some type of long-term care increases.

A common question people have about long-term care insurance involves cost.

How much a long-term care insurance policy costs you will be dependent on a number of factors, including how much you want to cover in the event long-term care is required, how long the policy pays out for, your age, health factors, and much more.

The younger you are when you start a long-term care insurance policy, the more affordable it might be with regard to monthly premiums. For example, a person who is in their late 40’s and starts a long-term care insurance policy that will cover three years of long-term care services may pay about $100 a month for the policy.

Somebody who takes out the same exact policy but waits until they’re 62 may be paying $240 a month or more. These are just examples and are not intended to provide any fiscal idea of just how much a policy may cost.

What about duration of the payout period?

In other words, how long will we know the policy pays out for? The average long-term care insurance policy may cover between two or five years of long-term care support services. These might include assisted living, nursing home care, or even home care, among other options.

You can control the cost of the monthly premium by reducing the number of years the policy would pay out as a maximum or, if you want to be protected longer in the event long-term care is necessary in your life, you can opt for a longer payout period, such as five years.

There are numerous options available for those men and women who desire to protect their financial investments and savings in the future, especially considering they may -at some point- require long-term care.

It’s best to sit down with a licensed and experienced broker to discuss the options available to you and your family at this point in your life and get a quote based on your options.

If you or a loved-one are considering Long-Term Care Insurance Quote in San Diego CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.

Steve Elliott