Long-Term Care Insurance Cost by Age: What You'll Pay at 40, 50, and 60

The age at which you purchase long-term care insurance is the single most important factor in determining how much you will pay. Every year you wait, premiums climb higher, and the risk of developing a health condition that could disqualify you from coverage increases. Whether you are 40 and thinking ahead, 50 and getting serious about retirement planning, or 60 and feeling the urgency, understanding exactly what long-term care insurance costs at your age can help you make a smart, informed decision.

Before diving into premium costs, it helps to understand what you are insuring against. The average cost of long-term care in 2026 ranges from roughly $71,000 per year for assisted living to more than $131,000 per year for a private nursing home room. A three-year nursing home stay can easily exceed $400,000. These are the costs that long-term care insurance is designed to help cover.

Average Annual Premiums by Age at Purchase

The following premium estimates are based on data from the American Association for Long-Term Care Insurance and represent a standard policy for a single male with a $150 per day benefit amount, a three-year benefit period, a 90-day elimination period, and a 3 percent compound inflation rider. These figures reflect 2025-2026 pricing and serve as general benchmarks. Actual quotes will vary by insurer, state, and individual health profile.

• Age 40: Approximately $900 to $1,400 per year. At this age, premiums are at their lowest because you have a long time horizon and are statistically unlikely to file a claim for decades. However, you will pay premiums for 30 or more years before you are likely to need benefits.
• Age 45: Approximately $1,100 to $1,800 per year. Premiums are still relatively affordable and you are almost certainly in good enough health to qualify without issues.
• Age 50: Approximately $1,500 to $2,400 per year. This is widely considered the beginning of the optimal buying window. Premiums are still manageable and the vast majority of applicants qualify at standard or preferred health ratings.
• Age 55: Approximately $2,000 to $3,500 per year. Premiums begin to rise more steeply, but this is still within the ideal purchasing window. Most applicants at this age can secure coverage without significant health-related surcharges.
• Age 60: Approximately $3,000 to $5,200 per year. At this point, annual premiums are roughly double what they would have been at age 50. Health conditions become a more significant factor, and some applicants will face higher rates or coverage limitations.
• Age 65: Approximately $4,500 to $8,000 per year. Premiums are substantially higher, and the denial rate for coverage climbs significantly. Roughly 25 to 40 percent of applicants at this age are declined for health reasons.

These figures represent a single male applicant. Women typically pay 40 to 60 percent more than men for the same coverage due to their longer average lifespan and higher utilization of long-term care services.

Individual vs. Couple Rates

If you are married or have a domestic partner, purchasing long-term care insurance as a couple can offer significant savings. Most insurers offer couple discounts of 25 to 40 percent off the combined premium when both partners apply together. Some carriers also offer shared-care riders that allow couples to share a pool of benefits, providing additional flexibility.

To illustrate the savings, consider a married couple both age 55 purchasing standard policies with a $150 per day benefit, three-year benefit period, and 3 percent compound inflation rider:

• Individual policies purchased separately: Approximately $2,200 per year for the husband and $3,400 per year for the wife, totaling about $5,600 per year combined
• Couple discount applied: Approximately $3,900 to $4,500 per year combined, a savings of roughly $1,100 to $1,700 per year

Over 25 years of premium payments, a couple discount can save $27,000 to $42,000 in total premiums. The couple discount typically applies even if only one partner is ultimately approved for coverage, though the specific rules vary by carrier. Some insurers also extend the discount to unmarried domestic partners.

How Benefit Amount Affects Cost

The daily or monthly benefit amount you choose has a direct and proportional impact on your premium. A higher benefit amount means the insurer will pay more toward your care costs each day, which naturally costs more in premium. Here is how different daily benefit levels affect annual premiums for a 55-year-old male with a three-year benefit period and 3 percent compound inflation rider:

• $150 per day benefit: Approximately $2,200 per year. This provides a maximum monthly benefit of about $4,500, which would cover most of the cost of assisted living in many markets but would leave a significant gap for nursing home care
• $200 per day benefit: Approximately $2,900 per year. This provides a maximum monthly benefit of about $6,000, which more closely aligns with the national median cost of assisted living and covers a substantial portion of nursing home costs
• $300 per day benefit: Approximately $4,300 per year. This provides a maximum monthly benefit of about $9,000, which would cover the full cost of a semi-private nursing home room in most areas of the country and come close to covering a private room

When choosing a daily benefit amount, consider the cost of care in your area and whether you plan to supplement insurance benefits with personal savings. Many financial planners recommend choosing a benefit that covers 50 to 75 percent of projected care costs, with the expectation that other income sources like Social Security and investment income will cover the remainder.

Inflation Rider Impact on Cost: 3% vs. 5% Compound

Inflation protection is arguably the most important feature of a long-term care insurance policy. Without it, the benefits you purchase today could fall far short of covering actual care costs 20 or 30 years from now. But inflation protection comes at a significant premium cost, and the difference between a 3 percent and 5 percent compound rider is substantial.

For a 55-year-old male purchasing a $200 per day benefit with a three-year benefit period, here is how the inflation rider choice affects the premium and future benefit value:

• No inflation protection: Approximately $1,600 per year. Your benefit stays at $200 per day forever. If care costs $400 per day in 20 years, you would be responsible for the $200 per day gap
• 3% compound inflation rider: Approximately $2,900 per year. Your $200 per day benefit grows to approximately $362 per day in 20 years and $488 per day in 30 years. This adds about 80 percent to the base premium
• 5% compound inflation rider: Approximately $4,200 per year. Your $200 per day benefit grows to approximately $531 per day in 20 years and $864 per day in 30 years. This more than doubles the base premium but provides the strongest protection against rising care costs

For buyers under age 55, a 3 percent compound rider is generally the most cost-effective choice, as it provides meaningful protection without making premiums unaffordable. For buyers over 60 who have a shorter time horizon before they may need care, some advisors suggest purchasing a higher initial daily benefit without an inflation rider, or choosing a simple inflation option that increases the benefit by a fixed dollar amount each year rather than compounding.

Benefit Period: 2-Year vs. 3-Year vs. 5-Year vs. Unlimited

The benefit period determines how long your policy will pay for care. Choosing a longer benefit period provides more protection but increases your annual premium. Here is how benefit period length affects the annual premium for a 55-year-old male with a $200 per day benefit and 3 percent compound inflation rider:

• 2-year benefit period: Approximately $2,200 per year. This provides a total benefit pool of roughly $146,000 at the time of purchase. The average nursing home stay is about 2.4 years, so a two-year policy covers most but not all stays
• 3-year benefit period: Approximately $2,900 per year. This provides a total benefit pool of roughly $219,000 and covers the majority of long-term care stays. A three-year period is the most commonly purchased option
• 5-year benefit period: Approximately $4,100 per year. This provides a total benefit pool of roughly $365,000 and covers even extended stays associated with conditions like Alzheimer's disease and other forms of dementia
• Unlimited benefit period: Approximately $5,800 to $7,000 per year or more. Very few insurers still offer unlimited benefit periods, and where available, premiums are roughly double or more compared to a three-year policy. For most people, a three-to-five-year policy provides adequate protection at a more manageable cost

When choosing a benefit period, keep in mind that most long-term care insurance policies pay benefits from a pool of money rather than strictly by time. If your policy has a three-year benefit period and a $200 per day benefit, your total pool is $219,000. If you only use $150 per day, the pool will last longer than three years. This flexibility can effectively extend your coverage if you do not use the maximum daily benefit every day.

Gender Differences in Long-Term Care Insurance Pricing

Since approximately 2013, most long-term care insurance carriers have moved to gender-distinct pricing, which means women pay significantly more than men for the same coverage. This shift was driven by actuarial data showing substantial differences in how men and women use long-term care services.

The key factors behind gender-based pricing include:

• Women live longer: On average, women live about five years longer than men, which increases the likelihood they will need long-term care services
• Women use care more often: About 70 percent of nursing home residents are women. Women are also more likely to live alone in old age after a spouse passes away, meaning they are less likely to have an informal caregiver at home
• Longer average claims: When women file long-term care insurance claims, they tend to receive benefits for a longer duration than men. The average claim length for women is roughly 3.7 years compared to about 2.2 years for men

As a practical example, a 55-year-old woman purchasing the same $200 per day, three-year, 3 percent compound inflation policy that costs a man approximately $2,900 per year would pay approximately $4,100 to $4,600 per year. This 40 to 60 percent premium differential is consistent across all age groups. While the higher cost may seem unfair, it reflects the statistical reality that women are much more likely to need care and to need it for a longer time.

How Your Health Rating Affects Premium Cost

Long-term care insurance involves medical underwriting, and your health status at the time of application directly affects your premium. Most insurers use three to four health rating tiers:

• Preferred Plus or Super Preferred: The best health rating, offered to applicants in excellent health with no significant medical history and no family history of dementia or Alzheimer's. Premiums may be 10 to 15 percent below the standard rate
• Preferred: Very good health with only minor, well-controlled conditions. Premiums are typically at the standard advertised rate or up to 10 percent below
• Standard: Good overall health but may have moderate conditions such as well-controlled high blood pressure, elevated cholesterol managed with medication, or a history of minor health issues. This is the most common rating tier
• Substandard or Rated: Applicants with more significant health concerns may still be approved but at a premium that is 25 to 75 percent above the standard rate. Not all carriers offer substandard ratings; some simply decline applicants who do not meet their standard criteria

Common conditions that can lead to outright denial include Alzheimer's disease or dementia, Parkinson's disease, multiple sclerosis, ALS, stroke with lasting deficits, insulin-dependent diabetes with complications, and current use of a walker or wheelchair. The older you are when you apply, the more likely you are to have developed a condition that affects your rating or eligibility, which is a compelling reason to apply earlier rather than later.

The Total Cost of Waiting: Buying at 50 vs. 60

One of the most common questions people ask is whether it makes financial sense to buy long-term care insurance earlier at a lower annual rate or wait and pay a higher rate for fewer years. The math strongly favors buying earlier in most scenarios. Here is a detailed comparison for a single male purchasing a $200 per day benefit with a three-year benefit period and 3 percent compound inflation rider.

Scenario 1: Buy at Age 50

• Annual premium: approximately $2,000
• Premiums paid from age 50 to 80: approximately $60,000 over 30 years
• Daily benefit at age 80 (after 30 years of 3% compound growth): approximately $486 per day
• Total benefit pool at age 80: approximately $532,000

Scenario 2: Wait and Buy at Age 60

• Annual premium: approximately $3,800
• Premiums paid from age 60 to 80: approximately $76,000 over 20 years
• Daily benefit at age 80 (after 20 years of 3% compound growth): approximately $362 per day
• Total benefit pool at age 80: approximately $396,000

The Bottom Line on Waiting

By waiting from age 50 to 60, this individual pays $16,000 more in total premiums over a lifetime while receiving approximately $136,000 less in potential benefits. That is a net disadvantage of roughly $152,000. In addition to the financial cost, the person who waits until 60 faces a meaningfully higher risk of being declined for coverage altogether. About 17 percent of applicants in their 50s are declined for health reasons, compared to roughly 25 to 40 percent of applicants in their 60s.

For a more detailed analysis of the optimal timing question, read our guide on when to buy long-term care insurance.

Strategies to Reduce Your Long-Term Care Insurance Premium

If the premiums at your age seem daunting, there are several strategies you can use to bring the cost down while still maintaining meaningful coverage:

1. Extend the elimination period: Increasing your elimination period from 90 days to 180 days can reduce premiums by 10 to 20 percent. The elimination period is the number of days you must pay for care out of pocket before benefits begin, similar to a deductible.
2. Choose a shorter benefit period: Dropping from a five-year to a three-year benefit period can reduce premiums by 25 to 30 percent while still covering the majority of long-term care stays.
3. Select 3% compound inflation instead of 5%: This single change can reduce premiums by 30 to 40 percent while still providing meaningful inflation protection.
4. Apply as a couple: Take advantage of couple discounts, which can save 25 to 40 percent per person even if both partners do not ultimately qualify for coverage.
5. Consider a hybrid policy: Hybrid policies that combine life insurance with long-term care benefits often have more stable premiums and provide a death benefit if you never need care. While typically more expensive upfront, they eliminate the risk of paying premiums for years and never using the benefits.
6. Shop multiple carriers: Premiums can vary by 30 to 50 percent or more between carriers for similar coverage. Working with an independent broker who represents multiple insurance companies can help you find the most competitive rate for your health profile.

Is Long-Term Care Insurance Worth the Cost?

Whether long-term care insurance is worth the cost depends on your individual financial situation, family history, and tolerance for risk. For a thorough analysis, see our guide on whether long-term care insurance is worth it. In general, long-term care insurance makes the most financial sense for people with moderate to high net worth who have enough assets to protect but not so much wealth that they can easily self-insure against a $300,000 to $500,000 or more long-term care event.

Consider this perspective: a 55-year-old man paying $2,900 per year for a policy with a $200 per day benefit, three-year benefit period, and 3 percent compound inflation rider will have paid approximately $72,500 in total premiums by age 80. If he needs a three-year nursing home stay at age 80, his policy could pay out approximately $532,000 in benefits. Even accounting for the time value of money, the potential return on that insurance investment is substantial. Of course, if he never needs long-term care, those premiums are a sunk cost, which is the fundamental risk-reward tradeoff of any insurance product.

The cost of long-term care insurance is meaningful at any age, but the cost of not having coverage can be devastating. About 70 percent of people turning 65 today will need some form of long-term care during their remaining years, and one in five will need care for more than five years. At current nursing home rates, a five-year stay would cost approximately $550,000 to $675,000 or more. For most families, that kind of expense without insurance would fundamentally alter their financial security.

The bottom line is that the best time to buy long-term care insurance is when you are healthy, can comfortably afford the premiums, and have assets worth protecting. For most people, that window falls between ages 50 and 60. If you are in that range and have been putting off this decision, the data is clear: every year you wait costs you more in premiums, gives you less in future benefits, and increases the chance that a health change could take this option off the table entirely.