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Your Guide to Choosing Long-Term Care Insurance

Not sure what’s even out there? Start with this guide.

Your age significantly influences the type of long-term care insurance product that’s most appropriate for you, but there are pros and cons to each available policy. Check out our breakdown of the most suitable long-term care insurance options according to different age brackets.

Not all policies may be available in all states.

Age Range: 40s to 60s

Linked Benefit Policies

Primary focus on long-term care but might also offer a death benefit. If long-term care isn’t used, a death benefit goes to beneficiaries.

PROS: Guaranteed premiums and benefits; option for inflation protection.


CONS: Generally more expensive than traditional policies.

Stand-alone Long-Term Care Insurance

Exclusively designed for future care needs. No death benefit, but some policies might offer a return of premiums.

PROS: The most coverage for the least premium amount.


CONS: Lacks a death benefit.

Age Range: 60s to 80s

Long-Term Care Annuities

Offers a balance of leverage and tax benefits.

PROS: Tax advantages; potential for more leverage in funding long-term care.


CONS: Typically less comprehensive than other long-term care insurance options.

Age Range: 60s and beyond

Home Health Care Service Contracts

Service contracts (not insurance) that cover nonmedical home care hours. These are an option for those anticipating the need for care in the next 10 years, regardless of age.

PROS: No medical underwriting or age limits; helps seniors stay at home.


CONS: Doesn’t cover care in a facility.

Age Range: 30s to 50s

Hybrid Life/Long-Term Care Insurance Policies

Dual protection with life insurance as the primary focus. Death benefit can be accessed early if long-term care is needed.

PROS: Provides life insurance; death benefit is paid tax-free.


CONS: Long-term care benefits typically don’t increase over time.

Ready to act? Request a free quote or consultation.

A Shopper’s Guide To Long-Term Care Insurance

 

What happens if you have pre-existing conditions? Can you renew your long-term care insurance policy? We can discuss these questions and more during our consultation. You can also download this free shopping guide for immediate answers.

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