Have you thought about what would happen to you if you are not able to care for yourself when you are 30, 35 or 39? What if your family is not able to take care of you?
The idea of aging in your 30's is especially a little scary, yet it is a part of life. Planning may help ease some of the anxiety that comes with fear of the unknown---and thirty-something is the perfect time to start.
It may be time to consider looking into long-term care insurance when you hit 30, 31, 32, 33, 34, 35, 36, 37, 38 & 39.
This article will give you insight into long-term care insurance options, a range of sample quotes for ages 30, 35 to 39, and cutting premium costs. You will learn what an inflation rider is and how it will help you.
Sample Long-Term Care Rates for Age 30 to 39
Listed are sample rates for individuals 30, 35 to 39 years old. Rates vary depending on age, marital status, state of residence, and the type of benefits package you choose.
To pay $150 day or $4500 monthly with a three-year benefit period, 90-day elimination period at 5% compound no max inflation:
- single--$175.97 to $192.73 a day
- married--$130.68 to $143.43 a day
To pay $250 day or $7500 monthly with a three-year benefit period, 90-day elimination period at 5% compound no max inflation:
- single--$290.31 to $317.90 a day
- married--$215.87 to $236.88 a day
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Sample Long Term Care Quotes for Single Individuals Aged 30 to 39
How much is long term care insurance for a 30 year old?
| Age | $150 day / $4500 monthly 3-year benefit period 90 day elimination period 5% compound no max inflation | $250 day / $7500 monthly 3-year benefit period 90 day elimination period 5 % compound no max inflation |
| 30 Years Old | $175.97 | $290.31 |
| 31 Years Old | $176.44 | $291.11 |
| 32 Years Old | $176.91 | $291.89 |
| 33 Years Old | $177.39 | $292.68 |
| 34 Years Old | $177.86 | $293.47 |
| 35 Years Old | $180.10 | $298.88 |
| 36 Years Old | $182.57 | $301.24 |
| 37 Years Old | $184.01 | $303.60 |
| 38 Years Old | $189.13 | $311.98 |
| 39 Years Old | $192.73 | $317.90 |
*Rates are monthly premiums are estimates only and are not to be considered an offer of coverage. Rates change by health, exact age, gender (for some companies), and state of residence.
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Sample Long Term Care Quotes for Married Individuals Aged 30 to 39
Same as above, all rates below assume a healthy individual using a 3-year benefit period, a 90-day elimination period, and a benefit that grows 5% compounding for inflation. *Please see the disclosure below.
How much is long term care insurance for a 35 year old?
| Age | $150/day ($4,500 Monthly) | $250/day ($7,500 Monthly) |
| 30 Years Old | $130.68 | $215.87 |
| 31 Years Old | $131.06 | $216.50 |
| 32 Years Old | $131.43 | $217.13 |
| 33 Years Old | $131.43 | $217.13 |
| 34 Years Old | $132.19 | $218.39 |
| 35 Years Old | $134.79 | $222.72 |
| 36 Years Old | $135.83 | $224.40 |
| 37 Years Old | $136.85 | $226.08 |
| 38 Years Old | $140.75 | $232.48 |
| 39 Years Old | $143.43 | $236.88 |
*Rates are monthly premiums are estimates only and are not to be considered an offer of coverage. Rates change by health, exact age, gender (for some companies), and state of residence.
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Some Common Long-Term Care Options For 35 Year Old's Are:
Examples of long-term care include assisted living facilities, nursing homes, skilled facilities, and other institutions that care for those who cannot live alone or need help. Staff in these facilities offer assistance with personal care, medications, exercise, and other needs.
Ways to Reduce Your Long Term Care Premium For Ages 30 to 39
There are ways to keep your premium costs down while still receiving optimum coverage. Having an inflation rider as a part of your policy will save you money later and increase your benefits.
How to lower the cost of long term care insurance for a 30 year old?
Remove the 5% Compound Inflation!
An inflation rider is a type of protection that ensures your daily benefit will increase every year by a fixed percentage over a period of time from 30, 35 to 39. The lifelong maximum benefits increase as well. Like the heart pumps blood through the body to keep you alive, an inflation rider maintains your advantages while keeping costs down.
Inflation riders provide long-term protection from losing coverage later on. Your long-term care premium may double, which can cost more. Riders help reduce a premium increase when your benefits increase.
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A 5% compound inflation means your benefits will increase over time and offer you better protection later but end up costing more money. If you select a 3% compound inflation, you still increase your benefits, but your coverage will not be adequate to keep up with rising costs.
Your insurance carrier rates may vary, but here is an example of what it would cost for a 30-year-old single individual to pay for long-term insurance in a 90-day elimination period:
For $4,500 per month in a three year benefit period x 5% compound inflation = $175.97 per day
For $7,500 per month in a three year benefit period x 5% compound inflation = $290.31 per day
A simple rider is around 24 percent less than a compound but does not cover as well. It would be more beneficial for someone over age 60.
How to lower the cost of long term care insurance for a 35 year old?
Extend the Elimination Period
If your policy allows it, ask about extending the elimination period from 90 days to six months, nine months, or a year. The longer the elimination period, the less it costs.
You can pay out of pocket over a long period until you need services, then your policy should cover you. Being in your thirties gives you more time to pay for your coverage, so you will be ready to use it on short notice.
Reduce the Benefit Period
Another way to lower premium costs for 30-to-39-year-olds is to consider reducing the benefit period. Decreasing it from three years to two or less will create a lower financial risk for the carrier and be cheaper for you. Some companies may not offer that option.
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Final Thoughts
Knowing what to expect and what options are available when you need them should put you at ease. No one wants to think about life as an older adult, but even though you are in your thirties you are getting older, and you need to plan.
Know what you want when you shop for quotes to avoid wasting your money or getting a raw deal. Inquire about ways you can save money without compromising the quality of care.
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