Long-Term Care Insurance
Helping Families Plan and Pay for Senior Care with Confidence
Long-Term Care Insurance (LTCi) is one of the most valuable tools for protecting your assets while securing quality care. Whether you’re planning ahead or looking to activate a policy for a loved one, we can help you understand your options and make the most of your coverage.
What is Long-Term Care Insurance?
Long-Term Care Insurance helps cover care services when individuals need assistance with activities of daily living (ADLs) such as bathing, dressing, eating, or mobility. Unlike Medicare, which provides limited short-term coverage, LTCi is specifically designed for extended custodial care that may last months or years.
Coverage Settings Include:
- In-home care
- Assisted living
- Memory care
- Skilled nursing facilities
Why Long-Term Care Insurance Matters?
The financial impact of long-term care is substantial and continues rising. Current monthly costs families can expect include:
- $5,000-$7,000/month for assisted living
- $6,000-$10,000/month for memory care
- $8,000-$12,000/month for skilled nursing
Without proper planning, these expenses can rapidly deplete retirement savings. LTC insurance provides financial security and greater choice in care options.
Policy Coverage Components
Most LTC insurance policies include these key elements:
- Daily or monthly benefit amount(e.g., $150 per day or $4,500 per month)
- Total benefit poolor coverage period (e.g., 3 years or $165,000 in total benefits)
- Elimination period(waiting period before benefits begin, typically 30-90 days)
- Optional inflation protectionto help benefits grow over time
Hybrid plans are increasingly popular, combining life insurance with long-term care benefits, offering flexibility with return-of-premium features and death benefits if care isn’t needed.
Cost Breakdown for 2025
Premium costs vary based on age, health, location, and policy features. Here are current estimates for new applicants:
| Age | Policy Type | Annual Premium Range |
|---|---|---|
| 55 (Single Male) | $165K, no inflation | $950 – $1,200 |
| 55 (Single Male) | $165K, 3% inflation | $2,200 – $2,600 |
| 60 (Couple, shared pool) | $165K each | $3,800 – $4,800 (combined) |
Important Note: Applying at younger ages and as a couple can significantly reduce premium rates.
Qualification Requirements
To qualify for LTC insurance, applicants typically must:
- Be in good health
- Be between ages 30-75
- Complete underwriting process including:
- Health questionnaire and medical history review
- Possible phone or cognitive interviews
- Review of current medications and diagnoses
Pre-existing conditions like Alzheimer’s, Parkinson’s, or recent strokes may result in coverage denial, making early application crucial.
How to Activate Your Policy?
To begin receiving benefits, you must:
Once approved, insurers either reimburse you directly or pay care providers.
Professional Support Services
Placement Helpers offers specialized assistance to maximize your LTC insurance benefits:
- Provider Matching: Identifying care communities and home care agencies that accept and coordinate with LTC insurance
- Cost Planning: Estimating benefit duration based on current local rates
- Expert Referrals: Recommendations for purchasing or reviewing policies
For personalized consultation, contact them at 866-828-9855 or through their online contact form.
