COST BENEFIT
ANALYSIS OF Long-Term Care - Table 1
Assumed:
Benefit at Issue $150/day
Elimination Period -- 20/30/50 Days
100% Home Health Care
Preferred Issue with Spousal Discount |
BLENDED
QUALIFIED RATES OF FIVE MAJOR INSURERS
(Rates as of 12/98) |
| Age
At Issue: |
50 |
55 |
60 |
65 |
70 |
75 |
80 |
| Annual Benefit
Increase: |
5%CP |
5%CP |
5%CP |
5%
CP |
5%
CP |
|
|
| Age At Claim: |
70 |
70 |
70 |
75 |
75 |
80 |
85 |
| Benefit At Claim: |
$398.00
|
$312.00
|
$244.00
|
$244.00
|
$191
|
$150.00
|
$150.00
|
| |
| (A) Benefit Period |
2 Years |
2 Years |
2 Years |
2 Years |
2 Years |
2 Years |
2 Years |
| Premium Age at
Issue |
$806.69
|
$907.85
|
$1,197.05
|
$1,655.65
|
$2,401.72
|
$2,562.72
|
$4,228.00
|
| Aggregate Premium
to Claim |
$16,133.88
|
$13,617.81
|
$11,970.48
|
$16,556.54
|
$12,008.59
|
$12,813.60
|
$21,139.60
|
| Days to Even |
41 |
44 |
49 |
69 |
63 |
85 |
141 |
| Aggregate Premium
@ 6% |
$29,674.64
|
$21,131.20
|
$15,778.04
|
$21,822.84
|
$13,538.70
|
$14,446.29
|
$23,833.60
|
| Days to Even |
75 |
68 |
65 |
90 |
72 |
96 |
159 |
|
| (B) Benefit Period |
3 Years |
3 Years |
3 Years |
3 Years |
3 Years |
3 Years |
3 Years |
| Premium Age at
Issue |
$1,011.16
|
$1,150.05
|
$1,519.59
|
$2,087.63
|
$3,031.92
|
$3,251.60
|
$5,401.24
|
| Aggregate Premium
to Claim |
$20,223.20
|
$17,250.81
|
$15,195.92
|
$20,876.26
|
$15,159.50
|
$16,258.02
|
$27,006.21
|
| Days to Even |
51 |
56 |
63 |
86 |
80 |
108 |
180 |
| Aggregate Premium
@ 6% |
$37,196.12
|
$26,768.62
|
$20,029.44
|
$27,516.56
|
$17,091.20
|
$18,329.59
|
30447.30 |
| Days to Even |
94 |
87 |
83 |
114 |
90 |
122 |
203 |
|
| (C) Benefit Period |
4 Years |
4 Years |
4 Years |
4 Years |
4 Years |
4 Years |
4 Years |
| Premium Age at
Issue |
$1,196.19
|
$1,389.94
|
$1,863.47
|
$2,529.61
|
$3,723.23
|
$3,852.51
|
$6,533.31
|
| Aggregate Premium
to Claim |
$23,923.80
|
$20,099.06
|
$18,634.70
|
$25,296.08
|
$18,616.14
|
$19,262.56
|
$32,666.53
|
| Days to Even |
61 |
65 |
77 |
105 |
99 |
128 |
218 |
| Aggregate Premium
@ 6% |
$44,002.56
|
$32,352.15
|
$2,462.03
|
$33,342.25
|
$20,988.17
|
$21,716.97
|
$36,828.84
|
| Days to Even |
112 |
105 |
102 |
138 |
111 |
145 |
246 |
COST BENEFIT
ANALYSIS OF Long-Term Care - Table 2
Assumed:
Benefit at Issue $150/day
Elimination Period -- 20/30/50 Days
100% Home Health Care Preferred Issue with Spousal Discount |
BLENDED
QUALIFIED RATES OF FIVE MAJOR INSURERS
(Rates as of 12/98) |
| Age
At Issue: |
50 |
55 |
60 |
65 |
70 |
75 |
80 |
| Annual Benefit
Increase: |
5%CP |
5%CP |
5%CP |
5%
CP |
5%
CP |
|
|
| Age At Claim: |
70 |
70 |
70 |
75 |
75 |
80 |
85 |
| Benefit At Claim: |
$398.00
|
$312.00
|
$244.00
|
$244.00
|
$191
|
$150.00
|
$150.00
|
|
| (C) Benefit Period |
5 Years |
5 Years |
5 Years |
5 Years |
5 Years |
5 Years |
5 Years |
| Premium Age at
Issue |
$1,365.74
|
$1,590.19
|
$2,140.45
|
$2,897.65
|
$4,240.75
|
$4,339.53
|
$7,906.75
|
| Aggregate Premium
to Claim |
$27,314.73
|
$23,852.80
|
$21,404.47
|
$28,976.53
|
$21,203.73
|
$21,697.63
|
$39,533.75
|
| Days
to Even |
69 |
76 |
88 |
119 |
111 |
145 |
264 |
| Aggregate Premium
@ 6% |
$50,239.43
|
$37,013.13
|
$28,212.80
|
$38,193.37
|
$23,905.48
|
$24,462.31
|
$44,571.08
|
| Days to Even |
126 |
119 |
116 |
157 |
125 |
163 |
297 |
|
| (D) Benefit Period |
6 Years |
6 Years |
6 Years |
6 Years |
6 Years |
6 Years |
6 Years |
| Premium Age at
Issue |
$1,274.91
|
$1,384.11
|
$1,830.97
|
$2,530.65
|
$3,707.15
|
$3,963.33
|
$6,241.48
|
| Aggregate Premium
to Claim |
$25,498.20
|
$20,761.65
|
$18,309.70
|
$25,306.50
|
$18,535.75
|
$19,816.63
|
$31,207.40
|
| Days
to Even |
66 |
69 |
77 |
107 |
100 |
132 |
208 |
| Aggregate Premium
@ 6% |
$46,898.32
|
$32,216.50
|
$24,133.65
|
$33,355.95
|
$20,897.55
|
$22,341.63
|
$35,183.80
|
| Days to Even |
121 |
107 |
102 |
141 |
113 |
149 |
235 |
|
| (F) Benefit Period |
Lifetime |
Lifetime |
Lifetime |
Lifetime |
Lifetime |
Lifetime |
Lifetime |
| Premium Age at
Issue |
$1,670.31
|
$1,882.98
|
$2,524.87
|
$3,460.48
|
$5,037.91
|
$5,202.85
|
$7,828.71
|
| Aggregate Premium
to Claim |
$33,406.20
|
$28,244.73
|
$25,248.68
|
$34,604.84
|
$25,189.57
|
$26,014.24
|
$39,143.53
|
| Days
to Even |
85 |
91 |
105 |
143 |
133 |
174 |
261 |
| Aggregate Premium
@ 6% |
$61,443.34
|
$43,828.22
|
$33,279.76
|
$45,611.92
|
$28,399.18
|
$29,328.93
|
$44,131.14
|
| Days to Even |
125 |
114 |
111 |
152 |
121 |
155 |
294 |
|
