The initial premium for a long-term care insurance
policy is based on:
• your age at policy purchase,
• the elimination period, and
• policy benefits and duration.
AGE – The younger you are when you buy the policy, the
less you pay in initial premiums. The premium may increase
with age (after age 65 a long-term care insurer cannot increase
premium due to age).
ELIMINATION PERIOD – Premiums are lower for longer elimination periods.
BENEFITS – A policy paying $50 per day for three years will cost less than one paying
$100 a day for five years.