Many group buyers are in their forties, attracted by premiums that may be only a few hundred dollars a year. Va. Buying group insurance in your forties that you may not need until you're80 could also be risky. Don't shortchange your retirement. Avoid buying a policy that requires a hospital stay before you can collect benefits. The younger you are, the lower the premiums.
Extra features add to the cost.
Don't feel obliged to cover the full cost of care. This benefit typically covers skilled care from nurses and therapists, as well as personal care from health aides and others. Payments continue for the period you choose, typically from two to five years, but in many cases for a lifetime. This is the deductible period during which you must pay for care out of your own pocket before benefits kick in. The longer you're willing to wait, the lower your premiums.