Long Term Care Insurance

How much does long term care insurance cost?

Long term care insurance is not as expensive as many people think. Many options can be customized to fit your specific needs and budget. The actual cost of your coverage will depend on a number of factors including:

• Your age when you apply
• Your health when you apply
• The length of time during which covered benefits would be available
• Specific policy features, benefits and optional benefits you select
• Any discounts you are eligible for

Many people have found effective ways to pay the insurance premium, including:

• Interest from general savings
• Dividends
• Annuity income

Tip: Many companies will consider your actual age at the time of your application, while others may base their rates on age nearest birthday. So if you have a birthday coming up, now is the time to apply to "save your age" which can save you premiums over the lifetime of the policy!

Many people think that they will save money on premiums if they just wait to buy long-term care insurance. This is not necessarily true. The longer you wait, the more you may pay in premiums over your lifetime.

Each year that you wait:

• Can increase the annual cost of the insurance because you should buy a higher daily benefit due to the fact that the cost of long-term care has gone up.
• You are a year older so your premium rate may increase.
• You are at risk in the event you have a health change and cannot qualify for coverage.

This Web site should be considered an advertisement and is not a contract. Policies are issued by Allianz Life Insurance Company of North America, Minneapolis, MN. The intent of this website is to gather consumer requests for product information, and transfer them in a timely manner to a licensed insurance representative who will contact the consumer directly regarding their specific needs.