How much do you pay per month for longterm care insurance?

[chrissyk]

After reading a thread on this board last week, I've gotten serious about shopping for a LTC policy for myself, one for my DH and one for my mom. I am cofused as all heck about how much this SHOULD cost. We're all healthy, and obviously DH and I are a lot younger than my mom. However, the premiums for the 3 of us don't seem all that different. I went through a LTC quote service. Now I wonder if I should be shopping the companies individually Thanks for any info that you're willing to share...I'd like to get a clue as to what we should be looking to pay. BTW, I got quotes for both 3-year and "lifetime" policies for all 3 of us.

 

[barkley]

just a suggestion-if you have any government or union affiliation check and see if they are contracted with any ltc insurers. my dh is a government employee and the ltc he can buy at a very good price is available to his extended family (not just spouse, but sibs, parents, sibs in law...) at the same reduced employee cost. it may be worth checking out.

 

[chrissyk]

just a suggestion-if you have any government or union affiliation check and see if they are contracted with any ltc insurers. my dh is a government employee and the ltc he can buy at a very good price is available to his extended family (not just spouse, but sibs, parents, sibs in law...) at the same reduced employee cost. it may be worth checking out.

We don't have either affiliation, and we can't buy it through work either. For various reasons, I actually don't mind buying the policy on our own (gives us more control over our options). I'm clueless about how much it should cost, though. That's a big reason that I haven't been serious about buying it in the past. It's tough to know if you're overpaying, KWIM?

 

[barkley]

maybe consumer reports or aarp has some good information on coverage/cost. you could check their websites.

 

[chrissyk]

Thanks, I hadn't thought of checking "Consumer Reports". I bought a book on buying LTC insurance, but I'm not sure that it will be helpful in terms of determining premiums. I think that this type of insurance has come a long way since it was introduced, but it seems like it still has a ways to go before it is a truly ubiquitous product. I can't believe the difference in premiums between various highly-rated companies. I also don't understand how DH, my mom and I are all coming up with relatively similar monthly premiums. I wonder what gives