Long Term Insurance Quotes: 2025 Guide

Planning for the future involves considering various aspects of financial security and well-being. One crucial, yet often overlooked, area is the potential need for long-term care. As we live longer lives, the possibility of requiring assistance with daily activities due to illness, injury, or cognitive decline increases. Understanding long-term care and how to finance it is essential. This guide explores long-term care insurance (LTCI) and provides insights into obtaining a long term insurance quote for 2025.

Navigating the world of insurance can be complex, especially for something as significant as long-term care coverage. Finding the right policy requires careful consideration of your personal situation, health, and financial goals. It’s not just about getting a quote; it’s about getting the *right* quote for the *right* coverage. This is where guidance from experienced professionals becomes invaluable. At Insurance By Heroes, we understand the importance of service and trust – values ingrained in our foundation. Founded by a former first responder and military spouse, and staffed by professionals with similar public-service backgrounds, we bring a unique perspective centered on protection and preparedness to help you navigate these decisions.

What is Long-Term Care?

Long-term care (LTC) encompasses a wide range of services and support designed to meet personal care needs over an extended period. Unlike traditional medical care that aims to treat or cure illnesses, LTC focuses on assisting individuals with basic self-care tasks they can no longer perform independently. This need can arise from chronic illness, disability, cognitive impairment like Alzheimer’s disease, or simply the challenges of aging.

These services can be provided in various settings:

• In-Home Care: Assistance provided in the individual’s own residence, ranging from help with chores and meal preparation to skilled nursing care.
• Assisted Living Facilities (ALFs): Residential settings that provide housing, meals, and personal care assistance for those who need help with daily activities but don’t require intensive nursing home care.
• Nursing Homes: Facilities offering 24-hour skilled nursing care, supervision, and assistance for individuals with significant physical or cognitive limitations.
• Adult Day Care Centers: Community-based programs providing social and support services for adults who need supervision during the day.
• Hospice Care: Specialized care focused on comfort and quality of life for individuals nearing the end of life.

The trigger for needing long-term care often relates to an inability to perform certain Activities of Daily Living (ADLs) or the presence of cognitive impairment.

Activities of Daily Living (ADLs) and Cognitive Impairment

Insurance policies typically define benefit eligibility based on specific criteria. Common triggers include:

• Inability to Perform ADLs: Most policies require certification from a licensed healthcare practitioner stating that you are unable to perform a certain number (usually two or three) of the six standard ADLs without substantial assistance for a period expected to last at least 90 days. These ADLs are:
  • Bathing: Washing oneself.
  • Dressing: Putting on and taking off clothes.
  • Eating: Feeding oneself.
  • Toileting: Getting to and from the toilet and performing associated personal hygiene.
  • Transferring: Moving into or out of a bed, chair, or wheelchair.
  • Continence: Maintaining control of bowel and bladder functions.
• Severe Cognitive Impairment: Requiring substantial supervision due to cognitive decline, such as Alzheimer’s disease or other forms of dementia, is another standard trigger for benefits, even if the individual can still perform most ADLs.

Statistics suggest that a significant portion of the population will require some form of long-term care after reaching age 65. While predicting individual needs is impossible, understanding the potential necessity is the first step in planning.

Understanding Long-Term Care Insurance (LTCI)

Long-Term Care Insurance (LTCI) is a specialized insurance product designed specifically to cover the costs associated with long-term care services. It helps policyholders pay for care they might need if they can no longer independently perform ADLs or suffer from cognitive impairment.

Here’s how LTCI generally works:

• Premiums: You pay regular premiums (monthly, quarterly, semi-annually, or annually) to keep the policy active. Premium amounts are based on factors assessed when you apply (more on this later).
• Benefit Triggers: As mentioned, benefits become payable when you meet the policy’s specific criteria, typically related to ADLs or cognitive impairment, and certified by a healthcare professional.
• Elimination Period (Waiting Period): This is like a deductible period, measured in days. It’s the number of days you must receive care and pay for it yourself *after* meeting the benefit trigger, before the insurance company starts paying benefits. Common elimination periods are 30, 60, 90, or 180 days. A shorter elimination period means higher premiums.
• Benefit Period: This is the maximum length of time (e.g., 2 years, 3 years, 5 years, lifetime) or the maximum dollar amount (pool of money) the policy will pay out for covered services once benefits begin.
• Daily/Monthly Benefit Amount: This is the maximum amount the policy will pay per day or per month for care. You choose this amount when you purchase the policy. Higher benefit amounts mean higher premiums.

Types of LTCI Policies

The LTCI market has evolved, offering different structures:

• Traditional (Standalone) LTCI: These policies focus solely on long-term care coverage. You pay premiums, and if you need care, the policy pays benefits according to its terms. If you never need care, the policy typically doesn’t pay out, and premiums are not returned (though some riders might offer a return of premium). Premiums can potentially increase over time, though increases are subject to regulatory approval.
• Hybrid (Linked-Benefit) Policies: These combine LTCI with another insurance product, usually life insurance or an annuity. A portion of the premium goes towards the life insurance/annuity component, and a portion funds the LTC benefits.
  • Life Insurance + LTC Rider: If you need long-term care, you can accelerate a portion (or all) of the life insurance death benefit to pay for care costs, typically tax-free. If you don’t use the LTC benefits, your beneficiaries receive the death benefit upon your passing. If you use some LTC benefits, the death benefit is reduced accordingly. Premiums are often guaranteed level.
  • Annuity + LTC Rider: You fund an annuity, and if LTC is needed, funds can be withdrawn from the annuity value, often with an additional pool of LTC benefit dollars provided by the insurer, to cover care costs. If LTC is not needed, the annuity value can be passed to beneficiaries or used for retirement income.

Choosing between traditional and hybrid policies depends on individual circumstances, financial goals, and risk tolerance. An independent agency like Insurance By Heroes can explain the nuances of each type offered by various carriers, helping you determine which structure aligns best with your needs when seeking a long term insurance quote.

State Partnership Programs

Many states have Partnership Programs for Long-Term Care Insurance. These are collaborations between state governments and private insurance companies. If you purchase a Partnership-qualified LTCI policy, you gain Medicaid Asset Disregard. This means if you eventually exhaust your private LTCI benefits and need to apply for Medicaid, a certain amount of your assets (typically equal to the amount of benefits paid out by your Partnership policy) will be disregarded when determining your Medicaid eligibility. This allows you to protect more of your savings. Availability and specific rules vary by state, making guidance crucial.

Why Consider Long-Term Care Insurance?

The decision to purchase LTCI is a significant one, often driven by several key factors:

The High Cost of Long-Term Care

Long-term care services are expensive, and costs continue to rise. National averages can provide a baseline, but actual costs vary dramatically based on location, type of care (in-home vs. facility), and level of care required. Consider these potential annual expenses:

• Homemaker services or home health aides: Tens of thousands of dollars.
• Adult day health care: Around twenty thousand dollars.
• Assisted living facility (private room): Over fifty thousand dollars.
• Nursing home care (semi-private or private room): Approaching or exceeding one hundred thousand dollars.

Paying for such care out-of-pocket can rapidly deplete even substantial retirement savings.

Limitations of Other Funding Sources

Many people mistakenly believe other programs will cover extensive long-term care needs. Understanding the limitations is critical:

• Medicare: Primarily covers acute medical care, doctor visits, and hospital stays. It only covers limited LTC services under specific conditions, such as short-term skilled nursing care following a qualifying hospital stay (up to 100 days, with significant co-pays after day 20). It does *not* cover ongoing custodial care (help with ADLs).
• Medicaid: This government program *does* cover long-term care, but it’s a means-tested program designed for individuals with low income and limited assets. To qualify, you typically must spend down most of your life savings and assets to meet strict state eligibility requirements.
• Health Insurance: Standard health insurance policies, like Medicare, generally do not cover custodial long-term care services.
• Personal Savings: Relying solely on savings is viable only for the very wealthy. For most, the high cost of care can lead to financial devastation.

Protecting Assets and Legacy

LTCI can help safeguard your savings and investments from being consumed by care costs. This allows you to preserve assets for your spouse’s future needs or pass on an inheritance to children or other beneficiaries, rather than spending it all on care.

Choice and Control Over Care

Having LTCI gives you more options regarding where and how you receive care. You might prefer in-home care over a nursing home, or a specific assisted living facility. Insurance benefits can make these choices financially feasible, whereas relying on Medicaid often limits your options to facilities that accept Medicaid payments.

Reducing Burden on Family

While family members often want to help, providing long-term care can be physically, emotionally, and financially draining. It can strain relationships and impact the caregiver’s own health, career, and finances. LTCI allows you to hire professional caregivers, relieving family members of the primary caregiving responsibilities while still allowing them to be involved in your care management and provide emotional support.

Getting a long term insurance quote is the first step toward understanding how this tool can fit into your overall financial and retirement plan, providing peace of mind for you and your loved ones.

Factors Influencing Your Long Term Insurance Quote

When you request a long term insurance quote, the premium amount presented is not arbitrary. It’s calculated based on several risk factors assessed by the insurance company during the underwriting process. Understanding these factors can help you anticipate costs and see why comparing options is so important.

• Age at Application: This is one of the most significant factors. The younger you are when you apply, the lower your premiums will generally be. Premiums typically increase substantially with age, and the risk of developing health conditions that could make you uninsurable also rises.
• Health Status: Underwriters will review your medical history, current health conditions, height/weight, tobacco use, and family history. Pre-existing conditions might lead to higher premiums, benefit limitations, or even denial of coverage. Some companies are more lenient with certain conditions than others – another reason why shopping the market is vital.
• Gender: Statistically, women live longer than men and are more likely to need long-term care for a longer duration. Consequently, women often face higher LTCI premiums than men of the same age and health status for identical coverage.
• Marital Status: Many insurers offer couples’ discounts if both partners apply for coverage, even if one is declined. These discounts can be substantial.
• Benefit Amount: The maximum amount the policy will pay per day or per month directly impacts the premium. Higher daily/monthly benefits equal higher premiums. It’s wise to research care costs in your area to choose an appropriate benefit level.
• Benefit Period/Pool of Money: The total duration (e.g., 3 years, 5 years) or the total amount (e.g., $250,000 pool) the policy will pay influences the cost. Longer benefit periods or larger pools mean higher premiums.
• Elimination Period: The waiting period before benefits start. A shorter elimination period (e.g., 30 days) results in higher premiums, while a longer period (e.g., 90 or 180 days) lowers the cost but increases your initial out-of-pocket expense.
• Inflation Protection: Since care costs rise over time, inflation protection is crucial. This feature automatically increases your benefit amount annually to keep pace with inflation. Options typically include simple interest increases or compound interest increases (often 3% or 5%). Compound inflation protection offers better long-term growth but comes with higher premiums. Skipping inflation protection significantly lowers the initial premium but can leave your coverage inadequate decades later when you might need it.
• Insurance Carrier: Different insurance companies have different underwriting guidelines, pricing structures, and financial stability ratings. Some may specialize in certain health niches or offer unique policy features. This variability underscores the importance of comparing quotes from multiple carriers.

Because these factors interact in complex ways, and because each insurer weighs them differently, the quotes you receive for similar coverage can vary significantly from one company to another. This is precisely why working with an independent agency like Insurance By Heroes is so beneficial. We have access to dozens of top-rated carriers and can compare their offerings side-by-side, helping you find the policy that provides the best value and fit for your specific health profile, budget, and coverage goals when you seek a long term insurance quote.

The Process of Getting a Long Term Insurance Quote

Obtaining a meaningful long term insurance quote involves more than just plugging numbers into an online calculator. It’s the start of a process to secure tailored coverage. Here’s what you can generally expect:

Initial Information Gathering

To provide an initial quote estimate, an agent will need some basic information:

• Your date of birth
• Your gender
• Your state of residence
• Your marital status
• General health information (height, weight, tobacco use, major health conditions)
• Desired coverage levels (ideas about daily/monthly benefit, benefit period, elimination period, inflation protection)

This initial quote is preliminary and subject to formal underwriting.

Working with an Agent/Broker

While some information might be available online, navigating LTCI complexities usually requires professional guidance. You can work with:

• Captive Agent: Represents only one insurance company. They can only offer products from that specific carrier.
• Independent Agent/Broker: Represents multiple insurance companies. They can shop the market on your behalf, compare policies and quotes from various carriers, and offer objective advice based on your needs.

Insurance By Heroes operates as an independent agency. Our loyalty is to you, the client, not to any single insurance company. Our team, drawing from backgrounds in public service where dedication and integrity are paramount, focuses on understanding your unique situation. We leverage our relationships with dozens of carriers to find the most suitable and competitively priced options for your long term insurance quote. We understand that not every company or policy is right for every person, and our goal is to educate you on the differences and help you make an informed choice.

The Application and Underwriting Process

Once you decide to proceed based on a preliminary quote:

1. Formal Application: You’ll complete a detailed application form, covering your health history, lifestyle, medications, and cognitive health. Honesty and accuracy are crucial.
2. Underwriting Review: The insurance company’s underwriting department will review your application. This typically involves:
   • Medical Records Review: They will likely request access to your medical records from your doctors (with your authorization via HIPAA release).
   • Phone Health Interview: A nurse or underwriter may conduct a telephone interview to ask detailed questions about your health history and current status.
   • Cognitive Screening: Depending on your age, a brief cognitive assessment (memory tests, simple problem-solving) might be part of the phone interview.
   • Pharmacy Report Check: They will likely check databases for your prescription history.
   • Possible Face-to-Face Assessment: In some cases, particularly for older applicants or those with complex health histories, a paramedical exam (similar to a life insurance exam) might be required.
3. Underwriting Decision: Based on all the gathered information, the underwriter will make a decision:
   • Approved as Applied For: Coverage issued at the quoted premium rate.
   • Approved with Modifications: Coverage offered, but perhaps at a higher premium rate (e.g., due to a specific health condition) or with slightly different terms. You can accept or decline this offer.
   • Declined: Coverage is not offered due to health risks falling outside the company’s acceptable guidelines.
4. Policy Delivery: If approved and you accept the offer, the policy documents are issued and sent to you. There’s typically a “free look” period (often 30 days) during which you can review the policy and cancel for a full refund if you change your mind.

The underwriting process can take several weeks to a couple of months. An experienced agent from Insurance By Heroes can guide you through each step, help set expectations, and communicate with the underwriters on your behalf if needed.

Common Misconceptions About LTCI

Several myths and misunderstandings prevent people from exploring long-term care insurance. Let’s address some common ones:

• “It’s only for the elderly.” While older individuals are more likely to need care *soon*, the best time to *buy* LTCI is often much earlier, typically in your 50s or early 60s. Applying when younger and healthier generally means lower premiums and a higher likelihood of qualifying medically. Waiting too long increases costs and the risk of being declined.
• “Medicare or my health insurance will cover long-term care.” As detailed earlier, this is largely false. Medicare covers very limited skilled nursing care under strict conditions, and standard health insurance does not cover custodial care (help with ADLs). Relying on these for long-term needs is not a viable strategy.
• “It’s too expensive.” LTCI premiums can be significant, but the cost of *not* having coverage when care is needed can be financially devastating. Premiums vary widely based on the factors discussed (age, health, coverage choices). Working with an independent agent allows you to explore different policy designs and carriers to find coverage that fits your budget. A modest policy is often better than no policy at all. Getting a personalized long term insurance quote is the only way to know the actual cost for you.
• “My family will take care of me.” While family support is invaluable, relying solely on loved ones for potentially intensive, long-term care can place immense physical, emotional, and financial strain on them. It can disrupt their careers, savings, and personal lives. LTCI provides funds to hire professional help, allowing family to provide support and oversight without becoming primary caregivers.
• “Premiums might increase unreasonably.” While traditional LTCI premiums are not always guaranteed level (unlike many hybrid policies), rate increases must be approved by state insurance regulators and typically apply to entire classes of policyholders, not individuals based on aging or health changes after purchase. Hybrid policies often offer guaranteed premiums.

Clearing up these misconceptions is important for making informed decisions about long-term care planning.

Alternatives and Complements to Traditional LTCI

Traditional LTCI isn’t the only way to plan for potential care costs. Depending on your situation, other strategies might be suitable, either as alternatives or complements:

• Hybrid Life/LTC Policies: As previously discussed, these combine life insurance with an LTC rider. They offer flexibility: LTC benefits if needed, a death benefit if not. Premiums are often guaranteed, and if you never need care, value remains in the policy. They can be a good fit for those who also have a need for life insurance.
• Annuities with LTC Riders: Similar concept, but built on an annuity chassis. Offers tax-deferred growth and the ability to leverage funds for LTC expenses, often providing benefits beyond the annuity’s cash value. Also provides remaining value if care is not needed.
• Short-Term Care Insurance (STCI): Covers care for shorter durations, typically up to one year. Underwriting is usually less stringent than LTCI, and premiums are lower. It can bridge gaps, cover LTCI elimination periods, or provide some coverage for those who cannot qualify for or afford comprehensive LTCI.
• Health Savings Accounts (HSAs): If you have a high-deductible health plan, an HSA allows tax-advantaged savings. Funds can be used tax-free for qualified medical expenses, including some long-term care services and even LTCI premiums (up to certain age-based limits). While unlikely to cover all LTC costs, it can be a helpful supplemental tool.
• Self-Insuring: This involves setting aside significant personal assets specifically earmarked for potential long-term care costs. This strategy requires substantial wealth, disciplined saving, and tolerance for the risk that care costs could exceed projections or that market downturns could erode the dedicated funds when needed.
• Reverse Mortgages: For homeowners aged 62+, a reverse mortgage allows access to home equity as tax-free cash, which could be used for care costs. However, interest accrues, the loan balance grows, and it must eventually be repaid, typically when the homeowner sells, moves out permanently, or passes away.

The best approach often involves a combination of strategies. Because the landscape of options is diverse and constantly evolving, consulting with knowledgeable professionals is key. At Insurance By Heroes, we don’t just focus on one type of policy. We assess your complete picture – your health, finances, family situation, and goals – and leverage our access to numerous carriers and product types (traditional LTCI, hybrids, STCI, etc.) to help you understand *all* your options and build a plan that makes sense for you. We compare how different products from different companies might address your needs, ensuring you understand the pros and cons before making a decision.

Why Choose Insurance By Heroes for Your Long Term Insurance Quote?

Choosing an insurance partner is about more than just finding the lowest price; it’s about finding expertise, trust, and a commitment to your best interests. This is especially true when planning for something as personal and significant as long-term care.

Insurance By Heroes was founded with a mission rooted in service. Our founder, a former first responder and military spouse, understands firsthand the importance of preparedness, protection, and looking out for others. This ethos permeates our agency, staffed by professionals who share backgrounds in public service and a genuine desire to help people secure their futures.

As an independent insurance agency, we are not tied to any single insurance company. Our allegiance is to you, our client. We work with dozens of the nation’s top-rated insurance carriers, giving us the freedom and flexibility to shop the market extensively on your behalf. When you come to us for a long term insurance quote, you’re not just getting one option – you’re getting a comparison of relevant policies from multiple providers.

We know that long-term care insurance is complex, and that one size certainly does not fit all. A policy that’s perfect for your neighbor might not be right for you due to differences in health, budget, family structure, or desired coverage levels. Different companies have different “sweet spots” in underwriting and pricing. Our role is to:

• Listen carefully to understand your specific needs and concerns.
• Educate you clearly on how LTCI works, including policy features, benefits, and potential costs.
• Explain the differences between various policy types (Traditional vs. Hybrid) and features (Inflation Protection options).
• Leverage our knowledge of multiple carriers’ underwriting niches and pricing to find the best potential fit for your situation.
• Present you with clear, comparable long term insurance quote options.
• Guide you through the application and underwriting process with transparency.
• Provide ongoing service and support after the policy is in place.

Our public service background means we approach our work with integrity and a focus on education, not high-pressure sales tactics. We believe in empowering you to make informed decisions that align with your long-term goals and provide genuine peace of mind.

Take Control of Your Future Today

Planning for long-term care is a proactive step towards ensuring your financial security, preserving your independence, and protecting your loved ones from potential burdens down the road. While contemplating the need for future care can be uncomfortable, addressing it now allows you to explore options while you are younger, healthier, and have more choices available.

Long-term care insurance is a powerful tool that can provide the financial resources needed to cover care costs, giving you control over where and how you receive care without depleting your life savings. Understanding the costs, benefits, and how to obtain the right coverage is crucial.

Ready to take the next step in securing your future? Get your personalized long term insurance quote today. Let the dedicated team at Insurance By Heroes put their experience and commitment to service to work for you. We’ll help you navigate the options from leading carriers, compare quotes, and find a plan tailored to your unique needs and budget. There’s no obligation, only clear information and guidance you can trust.

Fill out the simple quote request form on this page now to start the conversation and receive your complimentary long term insurance quote comparison. Let Insurance By Heroes help you plan with confidence.