How To Buy Long Term Care Insurance (2025-2026)

Premiums can increase; "use it or lose it" if care is never needed. Combines life insurance or an annuity with an LTC rider.

: Most experts advise adding an inflation rider (often 3% compound) to ensure your daily benefit keeps pace with rising healthcare costs over decades. 2. Choose a Policy Type Policy Type How it Works Traditional (Stand-alone) Standard monthly premiums for LTC benefits only. Generally the lowest initial annual premium. how to buy long term care insurance

Often easier to qualify for if you have minor health issues. Requires a significant lump-sum deposit. 3. Evaluate Carrier Stability When to Buy Long-Term Care Insurance for Yourself - AARP Premiums can increase; "use it or lose it"

: Decide on a daily benefit amount (e.g., $150/day) and a benefit period (typically 2 to 5 years, though some offer lifetime coverage). Often easier to qualify for if you have minor health issues

: Use resources like LongTermCare.gov or the Genworth Cost of Care Survey to find daily rates for home health aides, assisted living, and nursing homes.