Suppose I Buy At Age 45, Won’t I Be Paying More In Premiums Than I Might Ever Get In Benefits?
Free Insurance Quote Comparison
Secured with SHA-256 Encryption
UPDATED: Jul 16, 2021
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.
Suppose you purchase a $100 daily benefit with 5% compounding inflation protection, and pay premiums of $1,750 per year for forty years ($70,000). Then, you begin to receive long care benefits under your policy. The benefit amount would be $700 per day. In only 100 days, the benefits would exceed what you paid.