How to use the maximum premium calculator in Three Easy Steps.
Enter your total liquid assets
One year of income
1/2 of your home value only if you are (single, widowed, or divorced)
Note: Married couples are protected under the "spousal impoverishment act"
The home is protected under this act.
The example below is for a married couple
The rule of thumb being used in the calculation formulas is 1.5 % of your total estate to pay for LTC insurance. If you have health conditions or
are in a higher age bracket (75+) your calculations are based on 2.5% of
your total estate because of the increased risk of needing care.
Younger buyers may only spend a portion of the maximum premium, remember it is a guide of affordability that gives you an opportunity to
"Design A Policy" to your budget.
Younger buyers may want to consider purchasing limited pay plans also known as
"Paid Up Premiums" with lifetime rate guarantees to enhance stability with their financial planning goals.