212-695-7495 info@camlife.com

News & Thought Leadership

Is Long Term Care Insurance Affordable?

The answer is yes.  In 2017, the Nation’s insurance companies paid out $9.2 billion in claims to almost 300,000 insureds. For the cost of about two cups of coffee per day, a 50-year-old couple can purchase $250,000 of coverage. 

Long Term Care Insurance (LTCI) is the only type of coverage that protects your assets that have taken you a lifetime to accumulate. Neither Health Insurance nor Medicare will pay for your long-term care. 

With over 10,000 Baby Boomers turning 65 each day, the issue of where care will be given, who will provide it and how it will be paid are questions paramount to your retirement. When purchasing LTCI, you choose the premium and benefits that are affordable to you. 

All LTC benefits paid to you are tax-free and cover home care, assisted living and/or facility care.

Insurance companies offer many options including but not limited to:

Martial Discounts up to 25% Day 1 Coverage for Home Care 
Cash or Reimbursement Benefits LTC and Life Insurance Combined
No Premium Due if on Claim  Choice of Inflation Riders from 3-5%
Shared Care (husband and wife share pool of dollars) No Medical Exam Required 
  • New York State allows for an additional 20% tax credit on all premiums paid
  • Your policy is portable: If you choose to move from New York to any other state you are still protected
  • Certain types of policies offer guaranteed premiums


Sample Costs for a Couple in New York 

  50 Years Old  60 Years Old 
Monthly Benefit
$3,500 $3,500
Male Pool of Dollars
Female Pool of Dollars



Benefit Period

3 Years 3 Years
Female Annual Premium $584


Male Annual Premium
$859 $1,288
Combined Annual Premium $1,443 $2,123

For immediate access to a free consumer’s guide to LTC and/or an individual quote, fill out your information below or call Rick Lehrer at 212-695-7406. 

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Rick Lehrer