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Long Term Care Insurance Q & As
Question 10 of 10 in How Much Do I Need
Suppose I buy at age 45, Won't I be paying more in premiums than I might ever get in benefits?
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.