Financial Information
What is a typical monthly expense for Long Term Care?
Question : What is a typical monthly expense for Long Term Care?
We are looking at a Long Term Care policy from Lincoln Financial for my 77 year old mother, who is in good health. The policy has a limit of $ 420,000, but is limited to $ 5,000 per month. If she does need long term care, is $ 5,000 likely to cover the average monthly bill for expenses such as assisted living or home health care?
long term care
Best answer:
Answer by zeuz
No. LTC runs approximately $ 6,500 / month on average.
It really depends on where you live, but the average LTC is about $ 5000 per month nationwide. I would look into the cost of the policy from both Genworth and John Hancock. They are good companies and are competitively priced. With out knowing the options it is hard to determine what it covers. Try calling a few nursing facilities to get a cost of services in your area.