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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 $135,000, 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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