Is Long-Term Care Insurance Worth It?
It depends on your situation. Long-term care insurance tends to make the most sense for people in their 50s and 60s who want to stay home as they age, have savings they’d like to protect, and are healthy enough to qualify. It makes less sense if you can comfortably pay for years of care yourself.
What does long-term care cost?
At national median rates, close to full-time help at home runs about $6,700 a month, assisted living about $6,200, and a semi-private nursing home room about $9,585, according to CareScout’s 2025 Cost of Care Survey. (CareScout) For the full breakdown, see How Much Does Long-Term Care Cost?.
Whether those numbers are manageable depends on how long care lasts, which no one can know in advance.
What are the other ways to pay?
Savings: flexible, but care spends the same dollars you set aside for everything else.
Family: often steps in, usually at a real cost in time, income, and stress.
Medicaid: covers long-term care, but only after you’ve spent down most of what you have. See Long-Term Care Insurance vs. Medicaid.
Medicare: covers short-term skilled care, not ongoing help with daily living. See Does Medicare Cover Long-Term Care?.
Who is long-term care insurance a good fit for?
It tends to make the most sense if you:
Want to stay in your own home as you age
Have savings and assets you’d like to protect
Would rather your family not become your caregivers
Are healthy enough to qualify today
The NAIC’s consumer guide suggests considering coverage if you have many assets or a good income, don’t want to use most of your assets and income to pay for care, can afford the premiums including possible increases, don’t want to burden family or friends, and want to choose where you receive care. (NAIC Shopper’s Guide)
Who might it not be a good fit for?
People who can comfortably pay for years of care out of pocket
People whose health conditions would prevent approval
People for whom the premium would strain their budget: coverage only helps if you can keep it in place
The NAIC advises against buying if you can’t afford the premiums, don’t have many assets, rely only on Social Security or SSI, or are on Medicaid. It also offers a rule of thumb that a policy may be unaffordable if premiums would be more than about 7% of your income. (NAIC Shopper’s Guide)
What if you never need care?
With a traditional policy, premiums generally aren’t returned if you never use the coverage. With a linked-benefit policy like the coverage we offer, a death benefit goes to your beneficiaries instead. See What Happens If I Never Need Long-Term Care?.
How do you decide?
Staying Power is a licensed insurance agency that helps people decide whether long-term care coverage fits their plan.
The most useful step is getting real numbers for your situation: what care costs where you live, and what coverage would cost for your age and health. A licensed agent can walk through both. Start with a few questions.
Frequently asked questions
At what age is long-term care insurance worth buying?
There’s no single right age. Your premium is based on your age when you apply, and your eligibility is based on your health when you apply. See When Should You Buy Long-Term Care Insurance?.
Can I be turned down for long-term care insurance?
Yes. Coverage is medically underwritten, so your health history affects both eligibility and price.
Does long-term care insurance cover the full cost of care?
It pays up to the monthly benefit and benefit period you choose. Depending on your coverage and your actual costs, it may not cover the entire amount.
