Saturday, November 24, 2012

Group long-term care insurance can save you a bundle

On page 80 of A Boomer’s Guide to Long-term Care I suggested seeing if your employer offers long-term care insurance as an employee benefit.

Here’s an example of the potential savings:

Anoka County, Minnesota gives its regular employees access to long-term care insurance through a voluntary program. With this municipal pool program, there is no cost to the county. And employees have the opportunity to purchase the insurance for as little as $16.54 a month for a 45-year-old.

According to the insurance industry trade group, LIMRA, the average 40- to 49-year old pays about $150 per month. So you can see that buying through your employer could be one heck of a deal. You might want to check it out.

Enjoy your weekend!


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