Long-Term Care Insurance Calculator
Estimate the cost of long-term care insurance and your potential lifetime benefit based on age, benefit amount, and coverage period.
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How to use this calculator
- 1
Enter your current age and gender — premiums rise significantly with age and are typically higher for women.
- 2
Set the daily benefit amount — the national median nursing home cost is around $290–$330/day in 2024.
- 3
Choose your benefit period — 3 years covers the average LTC claim duration.
- 4
Add inflation protection if you plan to hold the policy for many years before needing it.
Frequently asked questions
When is the best age to buy long-term care insurance?
Most financial planners recommend purchasing between ages 52–64. Premiums are significantly lower the younger you buy, but paying premiums for too many years before needing care reduces the value. The sweet spot for most people is the mid-50s.
What does long-term care insurance cover?
LTC insurance typically covers care in a nursing home, assisted living facility, adult day care, and in-home care — when you cannot perform 2 of 6 activities of daily living (ADLs) or have a severe cognitive impairment. It does NOT cover short-term medical care covered by Medicare.
Does Medicare cover long-term care?
Medicare only covers up to 100 days of skilled nursing care after a qualifying hospital stay — not ongoing custodial care. Medicaid covers LTC for those who meet income and asset limits. Private LTC insurance fills the gap for those who want to protect assets.
What is a hybrid LTC policy?
Hybrid life insurance + LTC policies combine a death benefit with an LTC rider. If you never need care, your beneficiaries receive the death benefit. These are increasingly popular as alternatives to traditional stand-alone LTC policies, which offer no refund if unused.
Estimate your long-term care insurance premium before you need it
The cost of waiting
A 55-year-old typically pays $1,700–$2,700 per year for LTC coverage. By age 65, that same policy costs $3,750–$5,800 per year. Waiting a decade can double the premium — and poor health can make you uninsurable. Buying early locks in better rates and broader coverage.
How much coverage do you need?
The average LTC claim lasts about 2.5 years. The average nursing home cost in the US is about $100,000 per year. A $200/day benefit with a 3-year benefit period creates a pool of $219,000 — enough to cover the average claim. Inflation protection is important if you are buying 10–20 years before you expect to need care.
Learn more from an authoritative source:
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Results are estimates for informational purposes only and do not constitute professional financial, medical, legal, or technical advice. Read full disclaimer →