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WHEN SHOULD I APPLY FOR THIS COVERAGE?

Insurance companies count on our natural inclination to procrastinate when it comes to setting premiums for Long Term Care Insurance. Therefore, if you are over age 50 and have assets to protect, the best time to apply is now.
The chart below shows the impact of waiting to apply on premiums. These figures are taken from an actual proposal done for a 65-year-old client. The insurance company is one of the largest providers of this type of coverage in the nation.

The Costs of Waiting to Purchase Insurance

When Purchased
Age
Daily Benefit
Annual
Premium
Total Premiums
To Age 90
Cost of Waiting
Today
65
$100.00
$2,388.59
$59,714.75
0
In 5 Years
70
$120.00
$4,241.77
$84,835.40
$25,120.65
In 10 Years
75
$140.00
$7,764.75
$116,471.25
$56,765.50

As you can see, the insurance company's premiums increase when you wait to apply.

Learn more now, please click here.

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"For Illustration Purposes Only"

Underwritten by MetLife Insurance Company

 

 

 

 

 

 

 

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