Protect your retirement savings, maintain your independence, and ensure quality care in your later years with comprehensive long-term care insurance coverage.
Long-term care insurance helps cover the costs of care when you can no longer perform everyday activities independently due to chronic illness, disability, or cognitive impairment like Alzheimer's disease.
This coverage protects your retirement savings and assets from being depleted by expensive long-term care costs, which can range from $50,000 to over $100,000 per year depending on the type of care needed.
Annual cost:
Total care cost ( years):
Monthly cost:
Based on 2024-2025 cost data by state
Long-term care insurance provides coverage for a wide range of care settings and services to help you maintain quality of life.
24/7 skilled nursing care and supervision in a licensed facility for those who need constant medical attention.
Average Cost: $108,405/year
Includes: Room, meals, nursing care, medications, therapy
Residential care with assistance for daily activities in a more independent living environment.
Average Cost: $54,000/year
Includes: Private apartment, meals, personal care, activities
Professional care services provided in the comfort of your own home, allowing you to maintain independence.
Average Cost: $75,504/year (44 hrs/week)
Includes: Personal care, nursing, therapy, homemaking
Daytime care in a supervised setting providing meals, activities, and health monitoring.
Average Cost: $30,576/year (5 days/week)
Includes: Meals, activities, transportation, supervision
Temporary care services that give family caregivers a break from their caregiving responsibilities.
Typical Coverage: 30 days per year
Includes: Short-term facility or in-home care
Specialized care for individuals with Alzheimer's disease, dementia, or other cognitive impairments.
Average Cost: $75,000-$120,000/year
Includes: Secure environment, specialized staff, therapy
Understanding the key components of LTC policies helps you choose the right coverage for your needs and budget.
The maximum dollar amount your policy will pay per day for covered care services.
Typical Range: $100 - $400 per day
Monthly Equivalent: $3,000 - $12,000
Tip: Choose based on care costs in your area. Higher benefits = higher premiums.
The maximum length of time the policy will pay benefits for your care.
Common Options: 2, 3, 4, 5 years, or lifetime
Average Need: 3 years
Tip: 3-5 year coverage provides good protection for most situations.
The waiting period before benefits begin after you become eligible for care.
Common Options: 0, 30, 60, 90, or 180 days
Out-of-Pocket: You pay during this period
Tip: Longer elimination = lower premiums. Choose what you can afford.
Increases your daily benefit over time to keep pace with rising care costs.
Options: 3% simple, 3% compound, 5% compound, CPI
Impact: $150/day becomes $242 in 15 years (3% compound)
Tip: Essential if buying before age 70. Care costs rise 3-5% annually.
You can use your benefit pool flexibly. If you only need $100/day, your coverage lasts 6 years instead of 3.
Timing matters. Buy too early and you pay premiums longer. Buy too late and premiums are expensive or you may not qualify.
Example: $165/day benefit, 3-year benefit period, 90-day elimination, 3% compound inflation
| Age When Purchased | Annual Premium | Cost Difference |
|---|---|---|
| Age 45 | $1,500 | Baseline |
| Age 50 | $2,000 | +33% |
| Age 55 | $2,700 | +80% |
| Age 60 | $3,750 | +150% |
| Age 65 | $5,800 | +287% |
| Age 70 | $9,200 | +513% |
Premiums are estimates and vary by carrier, health status, and coverage details
Don't leave your retirement and independence to chance. Get a personalized long-term care insurance quote and protect what you've worked so hard to build.