How Much Long Term Care Insurance Should I Purchase?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    To calculate how much Long Term Care Insurance to purchase, you should first find out what the average cost of nursing home care is in your area. Then, consider your own income. You could buy a LTC policy that covers the full cost of your nursing home care. Or you could save policy premium by subtracting the amount of your income that you can pay for your care, from the total nursing home cost, and just purchase Long Term Care insurance to cover the difference.
    Answered on May 25, 2013
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