Long Term Care Insurance Quotes for 60 to 69 Years Old

Long Term Care Insurance for 60 to 69 years oldIf you’re 60 to 69 years old and want to know how much long-term care insurance costs, you’re in the perfect place!

The problem is most websites won’t show you free quotes.

(They just want your personal info!)

But not at Insurance Dodo.

We’re going to give you exactly what you want, sample long-term care insurance quotes, whether you’re in excellent or poor health, married or single, and that pay out various amounts from $150 per day ($4,500 per month) to $250 per day ($7,500 per month).  We’re also going to show you rates by your exact age, whether you’re 62 or 68, not just a ballpark for people in their sixties.

(We Think) You Already Know What You Need

Most long-term care articles talk about how much it costs to pay for in-home care or an extended stay at an assisted living facility, and talk about how Medicare isn’t gonna cover it.  They talk about triggering the policy by not being able to complete 2 of the 6 activities of daily living…

You already know all this!  You just need QUOTES now!

Or at least, that’s our assumption.  If you just need rates, move to the next section.  If you’re not sure how much insurance you actually need, we recommend you check out SeniorLiving.org’s resource about the cost of assisted living and home care in the U.S.

Sample Long-Term Care Rates for Age 60 to 69

Please understand the quotes we’re about to show vary widely on the options you choose.

Some common long-term care options are:

  • Inflation protection
  • Waiting period before coverage begins (elimination period)
  • Benefit period (how long the policy pays out)
  • and Maximum benefit (what’s the max amount the policy will pay out)

The rates also change quite a bit if you’re single as compared to married.  Married people tend to provide care for each other so they need to use the insurance less, making it a bit cheaper for married folks.  Better health can also fetch you a better rate.  For the quotes below, we’ll assume you’re in great health.

Sample Rates for Single Individuals

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.

Age $150/day ($4,500 Monthly) $250/day ($7,500 Monthly)
60 Years Old $303.34 $500.04
61 Years Old $317.01 $522.59
62 Years Old $332.06 $547.44
63 Years Old $351.85 $580.06
64 Years Old $371.75 $612.91
65 Years Old $386.41 $637.03
66 Years Old $417.77 $688.65
67 Years Old $441.49 $727.87
68 Years Old $477.17 $787.08
69 Years Old $512.97 $846.33

*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.

Sample Rates for Married Individuals

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.

Age $150/day ($4,500 Monthly) $250/day ($7,500 Monthly)
60 Years Old $226.75 $374.32
61 Years Old $237.31 $391.75
62 Years Old $248.82 $410.79
63 Years Old $263.78 $435.50
64 Years Old $278.86 $460.42
65 Years Old $289.76 $478.39
66 Years Old $312.94 $516.61
67 Years Old $330.89 $546.32
68 Years Old $357.76 $555.93
69 Years Old $384.62 $635.44

*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.

3 Ways to Reduce Your LTC Premium

There are several things you can do to lower the cost of your long-term care policy.

#1 – Remove the 5% Compound Inflation

The inflation option essentially doubles your benefit every 15 years.  The thinking is maybe you’re 63 now and it costs $6,000 per month for assisted living in your state.  But when you’re 73 in 10 years, the same facility might cost $9,000 to $10,000.  By adding the inflation option, your benefit will increase every year.

Other options instead of removing it all together would be choosing simple interest (does not compound), if the company has that option.

#2 – Extend the Waiting Period (Elimination Period)

I’ve quoted a 90-day waiting period above, but many policies will allow you to extend that to 6 months to a year.

If you can sustain 6 months to a year of nursing home/assisted living costs, this might be a great option for you.  For example, say you’re 66 years old right now and as of today, you qualify for the long term care insurance to kick in, but you’ve selected a 1-year elimination (waiting) period.  You will need to cover the costs of your care for 1 year before the insurance benefit begins paying you.

#3 – Reduce the Benefit Period

The quotes above show a policy paying out for up to 3 years.  Some policies will let you reduce that to 2 years.  This reduces the company’s financial risk, so your premiums get reduced as well.

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