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No matter what age you are now, it's doubtful that you will pay
more over your entire life in total premiums for long term care
insurance than you would pay for only a one year stay in a nursing
home.
The cost of nursing home care has risen at an average rate of 7%
per year for the last 15 years. Today's average cost of care is
about $120,000, but inflation rates will propel this cost much
higher. An average inflation rate of 6% over the next twenty years
would more than triple the cost of nursing home care.
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