costs

Why is long-term care insurance more expensive for women?

Many people are surprised to learn that long-term care insurance is more expensive for women than for men. Some people even wonder if it’s legal to charge different prices for different genders! Well, it is legal. In this post I will walk through why women pay higher premiums than men and will discuss the basics of how insurance companies set premiums and…


Why is long-term care insurance so expensive?

Many Americans who begin exploring long-term care insurance options are initially surprised by the price tag associated with premiums. Premiums for long-term care insurance can cost almost as much as premiums for health insurance, and are way more expensive than other types of insurance that many people are familiar with (like home or auto insurance). While…


What's the best age to buy long-term care insurance?

You’ve already thought about the reasons why you might want to purchase long-term care insurance, but now you face another really challenging question: when should you actually buy it? Since the premiums can be very expensive, many people put off the purchase decision for a long time, figuring they can always purchase later. Unfortunately, because of the…


Is long-term care insurance worth it?

What is long-term care? Long-term care is custodial care that you might need if you lose cognitive capacity or become severely disabled. It is common for older adults to require such care at some point during their retirement. For example, imagine someone with Alzheimer’s or severe dementia — they will need help with getting dressed in the morning,…


How much does long-term care cost?

Unless you’ve had a loved one or family member spend some time in a nursing home, you’re probably like most americans and are unaware of the full costs of long-term care. Because long-term care isn’t covered by Medicare or by primary health insurance, many people face an unfortunate sticker shock when faced with the costs to find great care when they need…