How much you’ll pay for long-term care insurance is based on three factors. Your age when you apply, how much protection you want and your health. Where you live today and where you plan to retire also play a part.

But here is information that’s most important for Arizona residents. Your long-term care insurance can be far more reasonable than you think.

Let me share a few ways people I work with significantly reduce the cost of long-term care insurance. Before I share, I thought the following statistic was especially interesting. In 2008, individuals between the ages of 55 and 59 paid as little as $844.00 a year for long-term care insurance protection. The maximum paid by someone in this age range was $6,939.

So, how can one reduce the cost? Start by considering a policy that might protect a specific amount of your savings and assets. The coverage you buy today can increase in value over time. So, a policy that provides $115,000 of protection today can grow to $305,000 in 20 years. If you are married, some long-term care insurance policies allow one spouse to access the other spouse’s benefit pool. That’s an option well worth taking a look. 

Consider adding a deductible to your policy. Most people have a deductible on their car insurance and homeowner’s policy. When it comes to long-term care insurance, adding a deductible will significantly reduce the cst and the majority of people select a 90 to 100 day period. The average annual savings will be about 20 percent.

Finally, know that costs vary significantly from one long-term care insurance company to another. I am a member of the industry’s long-term care insurance association and they share enormous information. Once a year they undertake a Price Index Study and the costs for almost identical coverage can vary by as much as 100 percent depending on your age and marital status.

If you would like to learn more about long-term care insurance, please take a moment to call my company at 877.441.4714 or email me at We will get your free information to you without any obligation. Thanks for reading our blog today.