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Best Long-Term Care Insurance Companies (2026)

Compare the best long-term care insurance companies in 2026. Learn how to evaluate policies, key features to compare, and what to expect on cost.

February 2, 2026

Choosing the right long-term care insurance company is one of the most important financial decisions you can make for your retirement. With nursing home costs exceeding $131,000 per year and the majority of Americans over 65 expected to need some form of long-term care, having the right policy from a reliable company can mean the difference between financial security and financial devastation. This guide will help you understand how to evaluate long-term care insurance companies, what policy features matter most, and how to shop for the best coverage at a fair price.

How to Evaluate Long-Term Care Insurance Companies

Not all long-term care insurance companies are created equal. Because you may be paying premiums for decades before ever filing a claim, it is essential to choose a company that will be financially stable and responsive when you need them most. Here are the key criteria to evaluate.

Financial Strength

Financial strength is arguably the most important factor when choosing a long-term care insurance company. You need to be confident that the company will be able to pay your claims 20, 30, or even 40 years from now. Check the company's ratings from independent rating agencies such as AM Best, Moody's, and Standard and Poor's. Look for companies rated A (Excellent) or higher by AM Best, which is the primary rating agency for the insurance industry.

Rate Stability History

One of the biggest complaints about long-term care insurance has been premium increases on existing policyholders. Some companies have raised rates significantly over the years, in some cases by 50 percent or more cumulatively. When evaluating companies, ask about their history of rate increases. Companies that have maintained stable rates or had minimal increases are generally considered better choices. Your state insurance department can often provide information about rate increase history for companies operating in your state.

Benefit Options and Flexibility

The best companies offer a wide range of customizable options so you can tailor your policy to your specific needs and budget. Look for flexibility in benefit amounts, benefit periods, elimination periods, inflation protection options, and care settings covered. Some companies also offer valuable riders and features like shared care for couples, waiver of premium during claims, and return of premium options.

Claims Process and Customer Service

A company's claims process matters enormously because you will be dealing with them during one of the most stressful times in your life. Research each company's claims reputation by reading customer reviews, checking complaint records with your state insurance department, and reviewing the NAIC's complaint index. The best companies have dedicated claims teams, care coordinators who help you navigate your options, and straightforward claims processes.

Types of Long-Term Care Insurance Policies

Before comparing companies, it helps to understand the two main types of long-term care insurance policies available today.

Traditional Long-Term Care Insurance

Traditional policies are standalone long-term care insurance products with ongoing annual or monthly premiums. They pay a daily or monthly benefit when you meet the benefit triggers (needing help with at least two activities of daily living or having a severe cognitive impairment). Traditional policies offer the most flexibility in designing coverage but carry the risk that premiums can increase over time. If you never need care, your premiums are not returned.

Hybrid (Combination) Policies

Hybrid policies, also known as combination policies or hybrid long-term care and life insurance products, combine long-term care coverage with a life insurance policy or an annuity. These products have been growing significantly in popularity and now account for a large share of new long-term care insurance sales. The primary appeal is that you get a benefit no matter what happens: LTC benefits if you need care, a death benefit for your beneficiaries if you do not, and in some cases the ability to surrender the policy for a return of premium. Hybrid policies generally have level premiums that are guaranteed not to increase, though they typically require a larger upfront financial commitment.

Key Features to Compare

When comparing policies from different companies, make sure you are evaluating the same key features. Here are the most important policy components to compare.

Daily or monthly benefit amount: This is the maximum amount the policy will pay per day or per month for covered care. Common benefit amounts range from $100 to $400 per day. Choose a benefit level that aligns with the cost of care in your area.
Benefit period: The length of time your policy will pay benefits. Common options are 2, 3, 4, 5, and 6 years. Some policies offer lifetime benefits at significantly higher premiums. A 3-year benefit period covers the average length of a long-term care need, but longer periods provide greater protection.
Elimination period: The waiting period before benefits begin after you qualify. Common options are 0, 30, 60, and 90 days. A longer elimination period means lower premiums but more out-of-pocket costs before insurance starts paying. Most financial advisors recommend a 90-day elimination period as a good balance.
Inflation protection: This optional feature increases your benefit amount over time to keep pace with rising care costs. Options include 3 percent compound, 5 percent compound, 3 percent simple, and the Consumer Price Index. Compound inflation protection is the most valuable option for younger buyers.
Care settings covered: Most modern policies cover a comprehensive range of care settings including nursing homes, assisted living, home care, and adult day care. However, verify that your preferred care settings are included and that home care coverage is not limited to a lower percentage of the facility benefit.

How Much Long-Term Care Insurance Costs

Premium costs are one of the most important factors in choosing a policy. Here are approximate annual premium benchmarks for a policy with a total benefit pool of roughly $165,000 (based on industry data):

Single male, age 55: Approximately $950 per year
Single female, age 55: Approximately $1,500 per year
Couple, both age 55: Approximately $2,080 per year combined
Single male, age 60: Approximately $1,200 per year
Single female, age 60: Approximately $1,900 per year

Women pay more than men because they tend to live longer and use long-term care services for more years on average. Couples often receive discounts when purchasing policies together. Adding inflation protection, choosing a higher benefit amount, or extending the benefit period will all increase your premium. Conversely, choosing a longer elimination period or lower benefit amount will reduce your premium.

What Affects Your Premium

Several factors determine how much you will pay for long-term care insurance. Understanding these factors can help you design a policy that balances coverage with affordability.

Your age at purchase: This is the single biggest factor. Premiums increase significantly with each year you wait. Buying at 55 versus 65 can mean the difference between affordable coverage and coverage that strains your budget.
Your health: Long-term care insurance is medically underwritten. Better health means lower premiums and a higher chance of being approved. Serious health conditions can result in higher rates or denial of coverage.
Your gender: Women pay higher premiums than men, typically 40 to 60 percent more, because they use long-term care services more frequently and for longer periods.
Your marital status: Many companies offer significant discounts for married couples, domestic partners, or people purchasing policies with a partner. Couples discounts can be 20 to 30 percent or more.
Policy design choices: Higher benefit amounts, longer benefit periods, shorter elimination periods, and more aggressive inflation protection all increase your premium. Adjusting any of these features can help you find a balance between coverage and cost.

Tips for Shopping for Long-Term Care Insurance

Shopping for long-term care insurance can feel overwhelming, but following a systematic approach will help you find the best policy for your situation. The NAIC's Shopper's Guide to Long-Term Care Insurance is a valuable resource that recommends the following approach.

Compare at least three companies: Get quotes from at least three different insurers to understand the range of pricing and features available. An independent insurance agent who represents multiple companies can make this process much easier.
Make apples-to-apples comparisons: When comparing quotes, make sure you are looking at the same benefit amount, benefit period, elimination period, and inflation protection option across all companies. Different benefit levels will produce different premiums even from the same company.
Check financial strength ratings: Verify each company's financial strength through AM Best, Moody's, or Standard and Poor's. Do not purchase from a company with questionable financial stability.
Ask about rate increase history: Request information about the company's history of raising rates on existing policyholders. A company with a clean rate history is preferable to one that has imposed multiple rounds of increases.
Read the policy carefully: Before purchasing, read the full policy document. Pay close attention to the definitions of covered services, benefit triggers, exclusions, and any limitations on specific types of care.
Use the free-look period: Most states require insurers to offer a 30-day free-look period after you receive your policy. If you change your mind for any reason during this period, you can return the policy for a full refund of premiums paid.

Important Considerations Before You Buy

Before committing to a long-term care insurance policy, consider the following factors that will shape your experience as a policyholder.

Budget for the long haul: Make sure you can comfortably afford the premiums not just today but throughout retirement. Dropping a policy after years of paying premiums means losing that investment. The NAIC suggests spending no more than 5 to 7 percent of your income on long-term care insurance premiums.
Consider your health and family history: If your family has a history of dementia, stroke, or other conditions that frequently lead to long-term care needs, insurance may be especially valuable. Conversely, if you have a health condition that may prevent you from qualifying, explore hybrid products or other alternatives.
Do not wait too long: The ideal time to purchase is in your mid-50s to early 60s. Every year you wait, premiums increase and the risk of being declined for health reasons grows. Learn more about when to buy long-term care insurance.
Tax considerations: Premiums for tax-qualified long-term care insurance policies may be deductible as a medical expense if you itemize deductions and your total medical expenses exceed a certain threshold. Benefits received from a tax-qualified policy are generally not taxable income. Consult a tax professional for your specific situation.

Choosing the best long-term care insurance company and policy is a deeply personal decision that depends on your unique financial situation, health, family history, and goals. Take the time to research thoroughly, compare your options, and consult with a qualified financial advisor or insurance specialist. The effort you put into this decision now can pay dividends in the form of security and peace of mind for decades to come.

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Frequently Asked Questions

How much does long-term care insurance cost per month?

Long-term care insurance premiums vary widely depending on your age, health, gender, and the policy features you select. As a benchmark, a 55-year-old man can expect to pay around $79 per month ($950 per year) for a policy with a total benefit pool of approximately $165,000. A 55-year-old woman would pay approximately $125 per month ($1,500 per year) for the same coverage. Couples purchasing policies together at age 55 can expect combined premiums of roughly $173 per month ($2,080 per year). At age 60, premiums increase to approximately $100 per month for men and $158 per month for women.

What is the difference between traditional and hybrid long-term care insurance?

Traditional long-term care insurance is a standalone policy that pays benefits only when you need long-term care. If you never use it, your premiums are not returned. Traditional policies generally offer more flexibility in benefit amounts and periods. Hybrid policies combine long-term care coverage with life insurance or an annuity. If you need care, the policy pays LTC benefits. If you do not need care, your beneficiaries receive a death benefit. Hybrid policies typically cost more upfront, often requiring a large lump-sum premium or payments over a limited period, but they guarantee that someone will receive a benefit regardless of whether you need long-term care.

What should I look for in a long-term care insurance company?

The most important factors to evaluate when choosing a long-term care insurance company are financial strength ratings (look for A or higher from AM Best, Moody's, or Standard and Poor's), a history of rate stability (fewer rate increases on existing policyholders), the range of benefit options offered, the claims process and customer satisfaction, and the availability of inflation protection options. The NAIC recommends comparing quotes from at least three different companies before making a decision.

Is inflation protection worth the extra cost?

For most people, inflation protection is one of the most valuable features in a long-term care insurance policy. Long-term care costs have historically risen faster than general inflation, at roughly 3 to 5 percent per year. Without inflation protection, a policy purchased at age 55 could cover only a fraction of actual care costs by the time you need care in your 70s or 80s. Compound inflation protection is the most valuable option, as it increases your benefit by a percentage of the previous year's benefit. Simple inflation protection increases by a fixed dollar amount each year. While inflation protection increases your premium, it can make the difference between a policy that truly covers your care and one that falls significantly short.

Can long-term care insurance companies raise my premiums?

Yes, traditional long-term care insurance companies can raise premiums on existing policyholders, but only if they raise rates across an entire class of policyholders in a state and receive approval from the state insurance department. Rate increases cannot be applied to just one individual. This has been a significant issue in the industry, with some policyholders seeing cumulative rate increases of 50 percent or more over the life of their policy. When evaluating companies, look at their history of rate increases. Companies that have not raised rates, or have raised them minimally, are generally considered more stable. Hybrid policies typically have level or guaranteed premiums that cannot be increased.

How many long-term care insurance companies should I compare?

The National Association of Insurance Commissioners recommends comparing quotes and policy features from at least three different companies. This allows you to see the range of pricing, benefit options, and policy structures available. An independent insurance agent who specializes in long-term care insurance can provide quotes from multiple companies at once, making the comparison process easier. Be sure to compare policies with similar benefit levels, benefit periods, elimination periods, and inflation protection to make an accurate apples-to-apples comparison.

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