A 55-year-old individual considering long term care insurance protection can expect to pay $665 a year if married or $1,075 if single, according to a new report.
A 65-year-old purchasing comparable coverage would pay $1,292 if married or $1,923 if single.
The American Association for Long Term Care Insurance, Westlake Village, Calif., has published those figures in the 2007 Long Term Care Insurance Price Index.
The costs are about the same as the costs the AALTCI was reporting in 2006.
The annual index measures current costs for top-selling LTC policies that offer the ability to receive care either at home or in a skilled care facility.
In the past year, some carriers introduced new policies that provide lower-cost coverage for younger individuals who are in good health as well as for nonsmokers, individuals who are married or residing with a partner, says Jesse Slome, executive director of the AALTCI.