Long-term care insurance is designed to help pay for certain extended care services that may not be fully covered by traditional health insurance or Medicare.
Depending on the policy, benefits may help with care received at home, in assisted living, in an adult day care setting or in a nursing facility.
Coverage is generally intended for people who need help with everyday activities such as bathing, dressing, eating or moving around safely.
Why Consider Long-Term Care Insurance?
Extended Care Support
Coverage can help with the cost of services needed over an extended period.
More Care Choices
Benefits may be available for care at home or in different types of facilities.
Asset Protection
Coverage may help reduce the amount of personal savings used to pay for long-term care.
Explore Long-Term Care Options
Home Care
Coverage that may help pay for eligible care and assistance received in your own home.
Disclaimer: Rates shown are sample premiums for general comparison purposes only. Actual costs vary by age, health, benefit amount, elimination period, inflation protection, state, policy type and insurer.
What Can Affect Long-Term Care Insurance Costs? Age
Age
Premiums generally increase when coverage is purchased at older ages.
Health
Medical history and current health can affect eligibility and pricing.
Benefit Amount
Higher daily or monthly benefits generally increase premiums.
Benefit Period
Policies providing benefits for longer periods usually cost more.
Elimination Period
A shorter waiting period before benefits begin can increase the cost.
Inflation Protection
Adding benefits designed to grow over time can increase premiums.
Who May Consider Long-Term Care Insurance?
Long-term care insurance may be worth considering if you want to plan ahead for possible extended care needs.
Common Reasons
Protecting retirement savings
Planning for home care
Preparing for assisted living
Reducing family caregiving pressure
Preserving more financial flexibility
Planning for future care expenses
Wanting more control over care choices
Benefits and Things to Consider
Benefits
Helps with eligible long-term care costs
Home and facility care may be covered
Can help protect personal savings
Multiple benefit structures available
May provide more care flexibility
Things to Consider
Premiums can be significant
Health underwriting may apply
Benefits are subject to policy limits
Waiting periods may apply
Premiums may increase on some policies
Long-Term Care vs. Other Protection
Long-Term Care Insurance
Designed specifically to help with extended care and assistance needs.
