The cost for certain long-term care insurance policy designs has not changed significantly over the past five years according to the American Association for Long-Term Care Insurance (AALTCI). For men, rates actually may have declined slightly from where they were five years ago, explains Jesse Slome, director of the long-term care insurance organization. Â Policy costs for women are about the same until you add an inflation growth option, then there is a significant increase.
The analysis is based on a comparison of the Association s annual long-term care insurance Price Index data. In 2016, a 55-year-old male would pay $1,015 annually for a policy that provided $164,000 in long-term care benefits, Slome shares. According to the 2021 Price Index, a 55-year-old male would pay $950 yearly for the same level of coverage. Adding the three percent compound inflation option did not dramatically inc
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