June 11, 2008

2008 Long-Term Care Insurance Price Index
Rates Increase Slightly Compared To Prior Year

A 55-year-old individual considering long-term care insurance protection can expect to pay $709-per-year for a base level of protection if they are married or $1,095 if they are single according to the 2008 Long-Term Care Insurance Price Index. Costs for coverage increased about 4% over 2007.

The annual index measures current costs for top-selling long-term care insurance policies that offer consumers approximately $115,000 in current benefits (base-level coverage), with protection increasing yearly as the individual ages.

2008 National LTCi Price Index
Average price for a comprehensive long-term care insurance policy (100% home care benefit + skilled care coverage) 90-Day Elimination Period with 5% Compound Inflation Protection Option

Age 55	$100 Maximum Daily Benefit x 3 Year Benefit Period Cost: $709-per-year Individual Qualifies for Preferred Health and Spousal Discounts
Age 55	$100 Maximum Daily Benefit x 3 Year Benefit Period Cost: $1,095-per-year Individual is single (preferred health discount)
Age 55	$150 Maximum Daily Benefit x 3 Year Benefit Period Cost: $1,064-per-year Individual Qualifies for Preferred Health and Spousal Discounts
Age 55	150 Maximum Daily Benefit x 3 Year Benefit Period Cost: $1,578-per-year Individual is single (preferred health discount)
Age 65	$100 Maximum Daily Benefit x 3 Year Benefit Period Cost: $1,342-per-year Individual Qualifies for Spousal Discounts (standard health)
Age 65	$100 Maximum Daily Benefit x 3 Year Benefit Period Cost: $1,999-per-year Individual is single (standard health)
Age 65	$150 Maximum Daily Benefit x 3 Year Benefit Period Cost: $2,013-per-year Individual Qualifies for Spousal Discounts (standard health)
Age 65	$150 Maximum Daily Benefit x 3 Year Benefit Period Cost: $2,998-per-year Individual is single (standard health)
Age 65	$240 Maximum Daily Benefit x 3 Year Benefit Period Cost: $3,221-per-year Individual Qualifies for Spousal Discounts (standard health)
Age 65	$240 Maximum Daily Benefit x 3 Year Benefit Period Cost: $4,729-per-year Individual is single (standard health)

Source: American Association for Long-Term Care Insurance