What is Long Term Care Insurance

How Coverage is Priced
The biggest factor in how much you’ll pay is your age and health.  Buying a policy at a younger age and in good health can reduce your costs by as much as 50%.  We recommend starting your research as early as possible.  Very good coverage can be purchased in your late 40s for as little as $1,500/year.  Should you buy at an early age and then have an accident, the policy could pay benefits when you are younger, so having coverage in force at an earlier age has benefits.  Request a quote on this site for your own personalized comparisons.

Designing The Perfect Plan For You
When comparing Long Term Care Insurance plan options, there is no perfect policy, but there are some good guidelines that can help smart consumers maxmize benefits relative to premium dollars spent.  For example, we looked at a healthy 55-year-old couple and found that for the same premium of $3,400/year, they could purchase either a policy that pays $180/day for 3 years but grows at 3% compounded a year, or a policy that pays $320/day for 3 years, with no compounding.  

Comparing Two Types of Plans
One thing to consider is whether each plan is Partnership approved.  While the first policy is qualified for anyone of any age, the latter is not.  Beoynd that, you need to determine when you'd likely use it.  The $180/day benefit starts lower but with 3% compound growth, you are better off by year 20.  So if you use your coverage at age 70, you'd be better off to have the larger initial benefit.  If you ended up living to age 85, you'd be much better off with the smaller initial benefit but with a 3% annual compounded increase option.

The Key: Shop Around
Insurance is one of those products that can vary grealty in price for similar coverage.  Have an independent broker supply multiple quotes from the top insurers in your state.  Request a free comparison on our site here, or feel free to call us.

Supplemental Information

Additional information on What is Long Term Care Insurance.

Florida Long Term Care Insurance policies are approved for sale and regulated by the Office of Insurance Regulation who oversees administration of private LTC policies.  Unlike about 35 other states, Florida does not generally participate in the Interstate Compact, and thus has unique policies for sale compared to many other states.

Florida LTC policies can be purchased by anyone who is a resident of the state.  Rates can be different than other states, but are generally similar when comparing coverage "apples to apples."


"I was concerned I may not qualify due to some arthritis treated by medications. Once I spoke with LTC Tree, I felt like I had a plan of companies that would accept me. Two months later, my application was approved and after a short Q&A with my agent I sent in the premium and put coverage in force. All is well.

Don B., Ft Myers Florida

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