Many survey report claims that A married couple in their 60s, both buying long-term care insurance policies may expect to pay from 6% to 9% more in comparison to last year as per the annual industry analysis of insurance costs.

As per reports from different sources, a typical couple both at their 60s need to pay between 100 USD and 150 USD per month each towards their long-term care (LTC) policy. The National Trade Group has just released their Long Term Care Insurance Price Index for 2017, to furnish the annual scrutiny of prices for new insurance policies available.

Most long-term care insurance providers believe in and support the ‘Good-Better-Best” approach for long-term care scheduling. A good policy can provide coverage to benefit consumers for as long as 360 days with a benefit pool, which increases every year as the policy-holder ages. For the individuals in need of LTC, this coverage is sufficient and can be considered to be good, and it’s going to be more affordable in due course. More than 40% of existing LTC claims end within a year as per data from market sources.

As per 2017 Long-Term Care Price Index, new LTC policy costs for a 60-year old couple surged between 6 to 9 percent if compared to the previous year.

LTC rates for single men actually decrease while the costs vary broadly among remaining insurance providers

Rates for LTC for the single men remained almost same or in some cases rather declined if compared to last year’s. Cost comparison done by a leading insurance provider shows that for a single man at his 55 underwent a year-to-year decrease of 20% in some cases. A single man of 55 years of age could expect to pay anywhere between 90 USD and 150 USD each month for LTC insurance offered by some of the leading insurance companies.

Rates for virtually similar policies still differ notably from one insurance provider to another. Insurance companies set their own, individual rates and costs for virtually same coverage may vary. An analysis found that costs differed by up to 70% - a decline from the previous year when some prices ranged by 94%. People usually purchase LTC only once, and thus it’s important to make it correctly at least for the first time.

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2017, New Long Term Care Insurance Costs undergo Minimum Hike - Compare Local Plans!