How Long Does Long Term Care Insurance Pay?
61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaLong term care insurance policies differ from company to company and sometimes by state because the price for assisted living and nursing home confinement costs differ. In Arizona my long term care insurance policy pays 7,000 a month for a total benefit of $420,000 or 60 months of coverage.Answered on September 6, 2013flag this answer.JPG)
63333 POINTSview profilePeggy MaceMost of the U.S.Long Term Care Insurance policies will pay for as long as they are set up to pay, or they will pay for as long as it takes to use the lump sum benefit up. E.g. If someone purchases a plan that adds up to a total benefit of $100,000, and if their cost to hire a relative to live with them is only $20,000 per year, the benefit can last 5 years. If they go to a nursing home, that benefit might only last 2 years.Answered on September 7, 2013flag this answer
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