Long-Term Care Insurance & Planning

For many people, long-term care insurance is a critical part of protecting their retirement savings and ensuring they can choose the type of care they want. Without coverage, the costs of assisted living or nursing care can quickly reach thousands of dollars per month and deplete assets meant to support you or your family. LTC insurance helps reduce the burden on loved ones by covering part of those expenses, giving you more control and flexibility. Whether it’s worth it depends on your personal goals, health, and financial picture, which is why planning ahead is so important.

Premiums at age 60 vary based on health, benefit amount, and policy design, but buying earlier often means lower costs than waiting until later in life. Many people choose to apply in their late 50s or early 60s while they are healthy enough to qualify and premiums are more affordable. The trade-off is that you may pay for more years before using the coverage, but locking in a lower rate can save significant money long term. We help you compare carriers and policy options so you can see what works for your situation.

Most LTC policies help pay for care when you can no longer perform certain daily activities, like bathing or dressing, or if you experience severe cognitive impairment. Coverage can include in-home care, assisted living, adult day care, and nursing facilities, depending on the policy. Each plan sets a daily or monthly benefit limit and a benefit period, such as three, five, or lifetime years of coverage. We’ll review the details with you so you understand exactly what services a policy includes and how to make it work with your long-term plan.

Most people consider purchasing coverage in their 50s or early 60s while they are still in good health and premiums are more reasonable. Waiting too long can make coverage unaffordable or result in being denied due to health changes. Buying too early, however, means paying premiums for more years before likely using the benefit. We help you evaluate the timing so you can balance cost, qualification, and the right amount of protection for your retirement years.

Yes. Many people explore hybrid policies that combine life insurance or annuities with LTC benefits so their premiums provide value even if they never need care. Others choose to self-insure part of the cost by setting aside savings or using home equity. Some states also offer LTC Partnership programs that work with Medicaid to protect assets if you need extended care. We can explain all of these approaches and help you find the option that aligns best with your financial goals and comfort level.