Printer Friendly Version The keys to owning your future are planning early and wisely, knowing your options and taking action. Use the calculator below to determine how much you should save or if you should consider buying long-term care insurance. Enter your age: Enter the number of years until you think you will need LTC: (or years until age 85) Select the type of LTC you will need: Assisted Living Nursing Home1 In-Home Care2 Select the state you will be living in when you will require LTC: -- AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY Enter the amount you can set aside monthly for LTC: $ Enter the annual rate of return you expect on your monthly savings:(e.g., 4%, 7%, etc.) % RESULTS: Total savings until you need care $ in years. Annual cost of selected LTC* in years: $ (adjusted for inflation at 5%) Gap between projected savings and cost of LTC: $ *Cost of approximately 1 year of LTC. 1 Semi-private nursing home care, 365 days per year. 2 Cost of single in-home health aide worker for 8 hrs per day, 365 days per year. Source: 2005 MetLife Mature Market Institute Survey and the American Association for Long-Term Care Insurance Web site.
The Iowa Insurance Division (IID) has general control, supervision and direction over all insurance and securities business transacted in the state, and enforces Iowa's laws and regulations. The IID investigates consumer complaints and prosecutes companies, agents and brokers engaging in unfair trade practices. Consumers with insurance or investment questions or complaints may contact the IID toll free at 877-955-1212 or visit the division on the web at www.iid.state.ia.us.
330 Maple Street   |   Des Moines, IA 50319   |   877-955-1212   |   info@travelwisely.iowa.gov