Well, depending on age and financial situation, the answer to that questions is vastly different.
I would focus first and foremost on figuring out the amount of coverage you desire. Generally when I show a 50-60 or so age person. I'll show them what a $6,000 Monthly Limit policy is and a $4,500 monthly limit policy, both for 6 year benefits. (If they don't use the maximum each month, the benefits will last longer than 6 years or whatever the policy states). I have also sold policies to people in their mid 40's. I always include Non-forfeiture benefit & inflation protection. The client will have to force me to take those off
I would say that $5,000 number you gave for two is definitely a good place to work from (depending on your age and situation), if it is a doable amount. Unfortunately, LTC premiums get expensive real fast if you wait too long. There is a such a high demand for care, that costs are increasing at rapid rates.
The hardest thing about discussing LTC here, is that there is so much uncertainty and variables with the the market itself. When/if will I need the policy? How long will I need care? How much will it cost?
That is why is it is really hard to give specific recommendations on here, without really getting into the acute details of a situation. However, hopefully this has helped a bit. If not, i'll try and get a little more detailed if I can.
This post was edited on 10/10 at 10:36 pm