Long term care insurance: How much does it cost?

Every individual has different wants and needs. Prices vary hugely by the type of product.

 

On pre-funded long term care cover, the younger you are when you take out the policy the cheaper it is.

 

On immediate care plans, it depends on your medical and other history, as to how long an insurer thinks you will need care before you die.

 

With pre-funded care plans, you and the insurer are trying to second-guess what the cost of care will be, in 30 or 40 or even 50 years time.

 

On any product where they pay an income or care fee, rather than just a fixed cash sum, the insurer is effectively gambling on how long you will live. Getting it wrong can cost the insurer a lot of money, which is why many insurers left the market; insurers do not like to admit it, but they hate anything where they cannot easily quantify the odds and the risk.

For online quotes and costs on UK long term care plans, use our Get A Quote section, or for enquiries about long term care plans, complete our enquiry form.