Check the background of this financial professional on FINRA's BrokerCheck Menu connect LTCI Cost of Waiting What Is the Potential Cost of Waiting to Purchase a Long-Term-Care Insurance Policy? There is a time-honored phrase related to long-term-care insurance and it goes like this: "Your money pays for long-term-care insurance, but your health buys it." As one ages, the risk of not being able to qualify for long-term-care insurance may increase due to deteriorating health. In addition to the risks of health problems as we age, the dollar cost of long-term-care insurance rises dramatically because the insurer has less time to accumulate sufficient reserves to cover its part of the risk. A complete statement of coverage, including exclusions, exceptions, and limitations, is found only in the long-term-care insurance policy. It should be noted that carriers have the discretion to raise their rates and remove their products from the marketplace. Your current age: 18 25 35 45 55 65 75 84 The annual premium (in dollars) for a long-term-care policy at your age: (If you do not know the premium, see your insurance professional for a complimentary quote.) 0 2k 4k 6k 8k 10k Previous Next This hypothetical example is used for illustrative purposes only. Actual results will vary. This information is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek advice from an independent tax or legal professional. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Broadridge Advisor Solutions. © 2021 Broadridge Investor Communication Solutions, Inc. Securities and advisory services offered through Royal Alliance Associates, Inc. member FINRA/SIPC. Royal Alliance Associates, Inc. is separately owned and other entities and/or marketing names, products or services referenced here are independent of Royal Alliance Associates, Inc. We are licensed to sell Insurance Products in the following states: AL, AZ, CA, CO, CT, DC, FL, GA, IL IN, KY, ME, MD, MI, NB, NH, NJ, NY, NC, OH, OR, PA, SC, TX, VA, WA, WI, WY We are registered to to sell Securities in the following states: AL, AZ, CA, CO, CT, DC, FL, GA, IL IN, KY, ME, MD, MI, NB, NH, NJ, NY, NC, OH, OR, PA, SC, TX, VA, WA, WI, WY PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. We make no representation as to the completeness or accuracy of information provided at these web sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to. Site Map Back To Top Check the background of this financial professional on FINRA's BrokerCheck