The cost of Long-Term Care Insurance policies vary widely depending on your age and the options you choose. However, you may find the long-term care insurance premiums to be more affordable than expected.
The younger you are when you get coverage, generally the lower your premiums will be.
For instance, our Classic Select Long-Term Care Insurance policy for a couple age 45 costs significantly less than a policy for a 65-year-old couple.
Premiums increase with age the longer you wait to purchase.*
Affordability Chart
Certain assumptions have been made in calculating the hypothetical illustration.
*Annual premiums are based on a Genworth Life Insurance Company Classic Select Plan in Illinois with $150 daily benefit, plan duration of 36 months, 90 day elimination period, 5% compound inflation protection. Costs vary by state.
Premiums remain the same each year (unless they are increased by the company for an entire class of policyholders at once). And generally that means the younger you are when you first buy a policy, the lower your annual premiums will be. It's also important to apply when you're healthy, so you can have coverage when you need it. If you wait until you actually need long term care, you would not qualify for Long-Term Care Insurance coverage.
