Long term care insurance quotes ages 50 55 59

Long Term Care Insurance Quotes for 50 to 59 Years Old (2021)

Your silver years are best spent traveling and thinking about retirement. However, it’s time to start thinking of long-term care to assist you at 50, 55 to 59 years old.

The costs of nursing homes or assisted living can become expensive. The best way to save money on long-term care insurance is the plan in your 50s.

Read on to find out more about long-term care insurance quotes for 50, 51, 52, 53, 54, 55, 56, 57, 58 to 59 years old and how to save on monthly premiums.

Sample Long-Term Care Rates for Age 50 to 59

For effective planning, it’s essential to know sampe long-term care rates for ages 50, 55 to 59.

Keep in mind that quotes vary depending on marital status, age, state, and other requirements depending on the company.

We will use the most common policies involving a 3-year benefit period, 90-day elimination period, and 5% compound inflation with no maximum. For single individuals between 50 to 59, long term rates may look similar to these figures:

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Sample Long Term Care Quotes for Single Individuals Aged 50 to 59

How much is long term care insurance for a 50 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

50 Years Old
$236.97
$355.54
51 Years Old
$241.02
$363.17
52 Years Old
$246.71
$404.71
53 Years Old
$250.92
$411.23
54 Years Old
$254.24
$414.94
55 Years Old
$258.13
$425.29
56 Years Old
$264.51
$434.44
57 Years Old
$273.09
$446.32
58 Years Old
$282.98
$463.42
59 Years Old
$291.72
$479.84

*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.


How Much Will Long Term Care Cost You? 

Learn more about the cost of care in your area. Use this tool to understand how a long-term care event might affect you. 

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Sample Long Term Care Quotes for  Married Individuals Aged 50 to 59

Those who are married may benefit from lower premiums. Using the same general policies such as a 3-year benefit period, 90-day elimination period, and 5% compound inflation with no maximum, sample rates for married individuals between ages 50 to 59 may include:

How much is long term care insurance for a 55 year old?

Age$150/day ($4,500 Monthly)$250/day ($7,500 Monthly)
50 Years Old$176.13$290.69
51 Years Old$179.55$292.29
52 Years Old$182.34$300.86
53 Years Old$185.38$305.86
54 Years Old$187.08$308.64
55 Years Old$191.93$316.67
56 Years Old$196.06$323.48
57 Years Old$201.44$332.35
58 Years Old$209.51$345.93
59 Years Old$217.29$463.66

*Please note these quotes are not a basis for coverage, as your state and personal qualifications depend on the company, further impacting your premiums. These factors include your exact age, health status, the state you reside in, and other aspects based on your insurance company.

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Some Common Long-Term Care Options For 55 Year Old's Are:

  • Maximum Benefit: The most your company pays out
  • Inflation Protection: Inflation is inevitable, and companies allow protection against rising costs
  • Waiting Period: Also called the elimination period, essentially before your coverage starts
  • Benefit Period: How long the policy will payout
Long term care insurance quotes ages 50 55 59

Ways to Reduce Your Long Term Care Premium for Age 50 to 59

Here are three ways to reduce your premiums for ages between 50 to 59 that involve removing the inflation option, extending the elimination period, and reducing the benefit period.

How to lower the cost of long term care insurance for a 50 year old?

Remove the 5% Compound Inflation

The primary purpose of the 5% compound inflation option is to double your benefit every 15 years. Although, removing this option is a great way to reduce your premiums.

For instance, if you’re 50 years old and will cost $4,000 for long-term assisted living in your state, it may increase to $6,000 to $7,000 in 9 years when you’re 59.


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It may be in your best interest to choose the simple interest option instead of compounding. However, not all companies offer this option.

How to lower the cost of long term care insurance for a 55 year old?

Extend the Elimination Period

Generally, quotes involve using 90-day waiting periods. However, it’s possible to extend the elimination period, but it is not a viable option for everyone.

This option may be most suitable for you if you can sustain six to 12 months of nursing home or assisted living costs.

For example, if you’re 55 today and your insurance begins to cover you after you meet their qualifications, you must cover the care costs for one year before the coverage starts.

Reduce the Benefit Period

A common way to reduce your premium is to reduce your benefit period. Most sample quotes preface three years, including this article.

However, it’s possible to scale down to two years or one year.

Let’s say you’re 55 and your benefits period begins after you meet your company’s qualifications, you can receive a 10% reduction by choosing two years and not three.

Companies allow you to reduce your benefit period because it’s less liability for them. As a result, you are rewarded with a lower premium.


Shopping for Long-Term Care Insurance? 

Get huge savings with up to 30% off long term care! Monthly cash benefits available even when family or spouse provide in-home care.

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Final Thoughts

Aging doesn’t have to be challenging, as long-term care insurance aims to make it easy to cover costs as you may enter assisted living or nursing homes in your state.

Long-term care insurance quotes for 50, 55 to 59 years may depend on exact age, state, health status, and other requirements. Waiting longer may increase your premium as you carry a more significant risk as you age.

Overall, start planning for long-term care to save in the long run.

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