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FOR OTHER ADVISORS -
Source Book
Long Term
Care Rates
The Ratings of The Insurers Shown Are At Least: AM Best=A+, S&P=AA,
Moody's=Aa
Annual Rates per
$100 Daily Benefit
Long-Term Care Insurance helps protect assets from the rising
cost of nursing home and home health care so individuals can
remain financially and socially independent.
An insured becomes eligible for benefits when they are unable
to perform at least two of the six Activities of Daily Living
(ADLs), or have Cognitive impairment.
The six ADLs are: 1) Dressing
2) Eating 3) Toileting 4) Bathing
5) Transferring from bed to chair
6) Maintaining Continence
The daily benefit can range from $100 to $500 per day in $10
increments. Any unused amount of maximum daily benefit will remain
in the policy limit for later use, thus extending the chosen
benefit period. For example: a 70 year old with a policy maximum
daily benefit of $300 per day and a benefit period of 6 years
(2,190days),
has a policy limit of $657,000.
The policy pays the lesser of $300 per day or the actual charges
until the entire $657,000 is spent.
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Annual Premium per
$100/day of Benefit.
The $100 benefit increases by
5% Compounded Each Year |
| 60 Day Elimination |
90 Day Elimination |
6
Year
Benefit |
Lifetime Benefit |
6
Year
Benefit |
Lifetime Benefit |
| 45 |
$990 |
$1,433 |
$900 |
$1,302 |
| 50 |
$1,016 |
$1,545 |
$924 |
$1,404 |
| 55 |
$1,143 |
$1,787 |
$1,040 |
$1,624 |
| 60 |
$1,385 |
$2,121 |
$1,259 |
$1,929 |
| 65 |
$1,740 |
$2,606 |
$1,582 |
$2,368 |
| 70 |
$2,644 |
$3,499 |
$2,404 |
$3,181 |
| 75 |
$4,054 |
$5,081 |
$3,685 |
$4,619 |
| Updated -
May 11, 2009 |
Rates above assume non-smoker in "Preferred" or "Best
Preferred" health category. They cannot be assumed to be the rates
at which any particular policy will be issued. Final issue decisions
and final rates must be determined only after a application, a medical
examination and additional data is obtained by the insurer.
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