Cost of Long-Term Care Insurance

Long-Term Care Insurance can be very expensive, although the premium is based on several factors including; your age at the time the policy is purchased, your health status, and the amount of coverage that is purchased. If you are considering investing in long-term care insurance, the sooner the better. Most long-term care insurance policy's will also offer a spousal/partner discount as well.

Cost of Long-Term Care

Below are the average cost of care in 2009, according to the The 2009 MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Health Care.

• Nursing Home Care, Private - $79,935 annually
• Nursing Home Care, Semi-Private - $72,270 annually
• Assisted Living Facility - $37,572 monthly
• Home Health Care Aide - $21 hourly
• Homemaker Services - $19 hourly
• Adult Day Services - $67 daily

Once you compare the costs of long-term care insurance premiums the premiums won’t seem so costly. Since long-term care insurance is designed to protect one's assets and standard of living, provide freedom of choice, help a person remain independent, this insurance should be treated as an investment.

"Paying for long term care can easily exhaust your savings. Buying long term care can protect your savings."