Estimate your LTC insurance premium and see how much a nursing home or assisted living stay would cost without coverage. Apply while healthy — premiums are lowest in your 50s.
According to DHHS data, approximately 70% of Americans reaching age 65 will need some form of long-term care during their lifetime. The average national cost of a private nursing home room in 2026 is $9,733 per month — $116,796 per year. An assisted living facility averages $5,511 per month. A three-year nursing home stay costs approximately $350,000 — money that comes directly from retirement savings in the absence of insurance or Medicaid planning. Long-term care insurance is one of the most important and underutilized elements of retirement planning.
This calculator estimates your LTC insurance premium using four key policy variables: daily benefit amount, benefit period, elimination period, and inflation protection. These inputs are applied to age and gender-adjusted base rates for 2026:
The daily benefit is the maximum amount the policy pays per day of qualifying care. At $200/day ($6,000/month), coverage aligns with the national average cost of assisted living. At $300–$325/day, coverage approaches the national average nursing home cost. The benefit period determines how long coverage lasts: 2 years covers most care needs, 3 years covers the statistical average, and 5 years or unlimited provides protection against catastrophically long care situations.
The elimination period (30–180 days) functions like a deductible — you pay for care out of pocket during this period before insurance kicks in. Longer elimination periods significantly reduce premiums. A 90-day elimination period is the most common choice, balancing premium savings against manageable out-of-pocket exposure ($15,000–$30,000 at typical care costs).
Patricia is 57, in good health, single, and wants to protect her $650,000 in retirement savings from long-term care costs. She selects a $200/day benefit, 3-year period, 90-day elimination, and 3% compound inflation protection.
Patricia's $200/day benefit in 2026 will be worth $269/day at age 67 and $361/day at age 77 with 3% compound inflation — keeping pace with rising care costs. Without insurance, a 3-year assisted living stay at today's prices would cost approximately $198,000 — rising to over $270,000 if Patricia needs care at age 77. Her annual premium of approximately $2,300 represents 0.35% of her retirement savings — a compelling trade for protection against a $200,000+ expense that would derail her retirement plan.
Apply Early and While Healthy
LTC premiums increase approximately 2–4% per year with age, and insurers decline about 20% of applicants at age 60 and 45% at age 70. Health conditions that develop in your 60s — diabetes, heart disease, cancer history, obesity, neurological conditions — can result in rated (more expensive) or declined coverage. Applying in your mid-50s in good health provides the best combination of affordable premiums and high approval likelihood.
Inflation Protection Is Critical
Long-term care costs have risen approximately 3–5% annually over the past decade. A $200/day benefit today without inflation protection may cover less than half of actual nursing home costs in 25 years. Three percent compound inflation protection keeps benefits roughly in line with historical LTC cost inflation. Five percent compound provides more aggressive protection but adds significantly to premiums. No inflation protection is appropriate only for those who will likely use benefits soon (already in their late 60s or 70s).
Premium Rate Stability
Traditional LTC insurance premiums are not guaranteed level — insurers can and have raised premiums significantly after policies are issued. Many older LTC policyholders have faced premium increases of 30–100% over their policy lifetime. When shopping for LTC insurance, ask about the carrier's rate increase history, look for carriers with strong financial ratings, and consider hybrid life/LTC policies that guarantee premiums will not increase.
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Quotes and policy terms vary by insurer, location, and individual circumstances. Consult a licensed insurance agent for personalized recommendations. Rates shown in this calculator are estimates only and do not constitute an insurance quote.
Get Insurance QuotesLong-term care (LTC) insurance covers the cost of care when you need ongoing assistance with activities of daily living (ADLs) due to chronic illness, disability, or cognitive impairment. ADLs include bathing, dressing, eating, continence, transferring (moving from bed to chair), and toileting. LTC coverage applies to care in nursing homes (skilled nursing facilities), assisted living facilities, adult day care centers, and home health care provided by a licensed health aide. LTC insurance does NOT cover doctor visits, hospital stays, or medical care covered by health insurance or Medicare. It specifically covers custodial care — long-term assistance with daily activities.
Medicare covers very limited long-term care: up to 100 days in a skilled nursing facility following a qualifying hospital stay, with significant cost-sharing after day 20. Medicare does NOT cover custodial care (help with ADLs) in a nursing home, assisted living facility, or at home unless the person also needs skilled medical care. Most people who rely on Medicare for long-term care are disappointed to discover how little it provides. Medicaid covers long-term care for those who qualify based on income and assets — but requires spending down most assets first, typically to $2,000 in countable assets for a single person.
The optimal window to purchase LTC insurance is typically ages 55–65. Purchasing before 55 means paying premiums for potentially decades before needing coverage, and the policies available have changed significantly over time. Purchasing after 65 means significantly higher premiums and a higher risk of being declined due to health conditions. Health is the critical variable — insurers decline approximately 20–25% of applicants at age 60, and 40–45% at age 70. The best time to apply is while in good health, which often means your mid-50s. At age 55, a couple in good health can typically secure a joint policy for $2,500–$4,000 per year combined.
The average person who receives long-term care needs it for approximately 2.5 years. However, this average masks significant variation: women average 3.7 years of care needs, while men average 2.2 years. About 20% of people need care for more than 5 years, often due to dementia, Parkinson's disease, or other progressive conditions that require prolonged supervision and assistance. For planning purposes, a 3-year benefit period covers the needs of most people, while a 5-year or unlimited benefit period provides protection against the small but financially devastating possibility of extended care needs. Alzheimer's disease patients often require 8–10 years of care.
Several alternatives to traditional LTC insurance exist. Hybrid life/LTC policies combine a permanent life insurance death benefit with an LTC benefit rider — premiums are typically paid in a lump sum or short period and the policy guarantees a death benefit even if LTC coverage is never used. Annuity-based LTC policies combine an annuity with LTC coverage. Chronic illness riders on permanent life insurance policies can accelerate the death benefit for LTC costs. Self-funding with dedicated savings or investments is an option for high-net-worth individuals. Medicaid planning (properly structured in advance) can protect assets while ultimately qualifying for Medicaid LTC coverage, but requires careful legal planning years in advance.
This calculator provides estimates for educational purposes only. Actual LTC premiums vary significantly by insurer, health status, and policy design. Premiums may not remain level after issuance. Consult a licensed insurance agent who specializes in long-term care insurance for accurate quotes and recommendations.