Long Term Care Real Life Examples

The following are examples of how long term care/extended care coverage helped protect people and the family's assets while covering the cost of care for several years:

Famale purchased a policy at age 43:

  • Annual premium of $1,800
  • Claim began three years later and has continued for 12 years
  • $1.2 million in benefits paid

Male purchased a 5-year policy at age 54:

  • Annual premium of $2,560
  • Claim began two years later and has continued for nearly 7 years
  • $690,000 paid in benefits

These stories emphasize the real life financial impact on two families.  What it does not measure is the physical and emotional impact on the family of someone needing extended care or long term care. The greatest benefit of long term care insurance is to allow loved ones to care about you, instead of having to care for you.

 

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