Long-Term Care Insurance Needs Calculator
Estimate your future long-term care costs and find out how much coverage you really need.
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Understanding Long-Term Care Insurance
Learn what long-term care insurance covers and why it's essential for your financial planning.
Long-term care insurance is designed to cover the costs of services for people who have chronic illnesses, disabilities, or cognitive impairments that prevent them from performing basic activities of daily living (ADLs) such as bathing, dressing, eating, and transferring.
Unlike health insurance, which covers medical treatments, long-term care insurance pays for custodial care, help with everyday tasks that you can no longer do on your own. This care can be provided in various settings:
- Home Care: Professional caregivers come to your home
- Assisted Living: Residential facilities with support services
- Nursing Homes: 24/7 skilled nursing care facilities
- Adult Day Care: Supervised care during daytime hours
Frequently Asked Questions
Get answers to common questions about long-term care insurance
The average cost of long-term care insurance in 2025 ranges from $120 to $440 per month, depending on your age, health status, coverage amount, and benefit period. A typical 55-year-old might pay $150-250 monthly for a comprehensive policy.
No, Medicare does not cover long-term custodial care. Medicare only covers skilled nursing care for a limited time (typically 100 days) after a qualifying hospital stay. Long-term care insurance is designed to fill this gap.
Calculate your coverage needs by considering: your current age, expected retirement age, family health history, local care costs, desired quality of care, and how much of your savings you want to protect. Our calculator helps estimate these factors.
The best age to buy long-term care insurance is typically between 45-55. At these ages, premiums are more affordable and you're more likely to qualify for coverage. Waiting until your 60s or 70s can significantly increase costs.
Key factors include: age, gender, health status, smoking status, family medical history, desired daily benefit amount, benefit period, inflation protection, and elimination period. Your location also affects costs due to varying care expenses.
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