How expensive is long term care insurance?

[mcollins]

I heard that the cost of long term care insurance today is very expensive. I'm just earning an average income and I still have a mortgage but I'm interested in buying coverage. How much do you think it would cost me?

[racheljames]

It's true that long term care insurance rates com with a high price tag. Based from this http://www.ltcoptions.com/, people will have to spend thousands of dollars every year for this insurance product. The price range is between $1,000 to $7,000. That's a lot especially to people who don't have a steady income. However, the estimate cost of coverage can still change depending on some factors. If you purchase while you're still young and healthy, you will obviously enjoy low premiums but if you purchase at a later age and you are suffering from a life-threatening disease or condition, you have to pay for a steep price.