Caring for yourself as you age is a hefty expense for the record 4.18 million Americans who turned 65 in 2025.
In fact, the average person in this age group would need $135,000 set aside today for expected future long-term care costs alone, assuming a 4.35% investment return, according to a January report from the actuarial and consulting firm Milliman.
If your savings wouldn't be sufficient to cover these costs, long-term care insurance could help you bridge the gap. Not only can this type of coverage reimburse you for physical therapy or assisted living, but it can also help you stay at home as long as possible by paying for a caregiver or home modifications.
We compared more than 24 insurance providers offering both hybrid and standalone long-term care policies and picked the best across a variety of categories. (See our methodology for more information on how we made our choices.)
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Mutual of Omaha offers two LTC policies for individuals between 30 and 79 years old. with add-ons like inflation protection and return of premium benefits. Discounts available to applicants in good health.
Terms Apply.
One of the largest LTC marketplaces in America, GoldenCare offfers policies from Mutual of Omaha, Cigna, Nationwide and other top providers, as well as Medicare Advantage, prescription drug and critical illness plans.
Terms Apply.
Best long-term care insurance
Best for comparison shopping: GoldenCare
Who's this for? GoldenCare is a long-term care marketplace that's great for comparing rates and coverage options. Its offerings include major providers like Nationwide, National Guardian Life Insurance and Mutual of Omaha.
Standout benefits: GoldenCare also offers Medicare Advantage plans, as well as life insurance, critical illness and annuity policies.
GoldenCare
Standout features
Founded in 1974, GoldenCare is one of the largest LTC brokers in America, with policies from Mutual of Omaha, Cigna, Nationwide and other top providers, as well as Medicare Advantage, prescription drug and critical illness plans
Age limits
Depends on provider
Maximum benefit
Depends on provider
Benefits period
Depends on provider
Pros
- Medicare Advantage available
- Offers prescription drug and critical illness plans
Cons
- Insurance broker, not a provider
- Can't compare plans online
- Not all plans are available in all areas
Best for seniors: Mutual of Omaha
Who's this for? Mutual of Omaha accepts applicants up to age 79, older than many competitors.
Standout benefits: Mutual of Omaha offers a 15% discount for couples who enroll together and a 5% discount if one partner gets coverage. There is also a 15% discount if you meet certain health qualifications. Policies include access to a care coordinator, and your premiums are waived while you receive benefits.
Mutual of Omaha Long-Term Care Insurance
Standout features
Mutual of Omaha offers two standalone LTC policies with add-ons like inflation protection and return of premium benefits. Discounts available to applicants in good health.
Age limits
From 30 to 79 years old.
Maximum benefit
MutualCare Secure Solution: $1,500 to $10,000 per month. MutualCare Custom Solution: Up to $10,000 per month.
Maximum benefits period
24, 36, 48 or 60 months.
Pros
- Flexible elimination period options
- Discounts available for couples and people in good health
- Available in all 50 states
Cons
- Return of premium and inflation protection cost extra
Best hybrid long-term care insurance: Nationwide
Who's this for? Nationwide's hybrid policies are a good fit if you want to combine whole life insurance with long-term care benefits. The CareMatters and CareMatters Together solutions are paid out in cash rather than on a reimbursement basis, so you don't have to wait for expenses to be approved.
Standout benefits: Policyholders can make one-time, monthly or annual payments for five or 10 years, or to age 65 or 100, and receive benefits for two to seven years.
Nationwide CareMatters
Standout benefits
Nationwide's CareMatters and CareMatters Together combine life insurance and LTC benefits. They're cash indemnity policies, so policyholders get the full amount upfront instead of waiting for reimbursement.
Age limits
Available to ages 30 to 75; Up to age 70 for CareMatters Together.
Maximum benefit
Up to $20,000 per month.
Benefits period
CareMatters: 2 to 7 years. CareMatters Together: 48, 72 or 96 months.
Pros
- Highly rated for customer service
- Cash indemnity benefit with no restrictions
Cons
- Standalone policies not available
- Medical exam may be required
- Nationwide CareMatters Together not available in California or New York
Best for couples: New York Life
Who's this for? New York Life is one of the few providers with standalone long-term care insurance. It's My Care and Secure Care policies offer riders and coverage levels to fit different budgets and needs.
Standout benefits: My Care offers a generous 25% discount for couples and a 10% discount if one partner is enrolled. Plus, if you already have a New York Life insurance, annuity or mutual fund policy, you can save 5% on your premiums in the first year.
New York Life My Care
Standout benefits
New York Life's My Care plan is a standalone LTC policy with four tiers that cover up to 80% of expenses at home or in a facility.
Age limits
Up to age 79.
Maximum benefit
Between $1,500 and $7,000.
Benefits period
2 to 7 years, with a lifetime benefits option.
Pros
- One of the few stand-alone long-term care options
- Discount for couples and existing New York Life customers
- Available in all 50 states
- Care-planning team available to policyholders
Cons
- Only offers 80% reimbursement rate
- Quotes not available online
Best for customer service: MassMutual
Who's this for? MassMutual routinely scores highly for customer satisfaction on J.D. Power's life insurance surveys and receives far fewer complaints than other providers, according to the National Association of Insurance Commissioners (NAIC).
Standout benefits: MassMutual's CareChoice One and CareChoice Select are hybrid whole life insurance policies with a benefit pool that includes a long-term care benefit, a death benefit and a surrender value if you cancel your policy.
MassMutual CareChoice Long Term Care and Life Insurance
Standout benefits
MassMutual’s CareChoice One and CareChoice Select plans combine the usefulness of a long-term care insurance rider with the convenience of a whole life insurance policy. Policies include a guaranteed long-term care benefit, death benefit and an increasing surrender value.
Age limits
Available to ages 35 to 69.
Maximum benefit
Not available.
Benefits period
Starts at 48 months
Pros
- High customer satisfaction ratings from J.D. Power
- Low volume of complaints
Cons
- Little information on policies available online
- Only offers hybrid whole life insurance with long-term care rider
Best for high benefit limits: Northwestern Mutual
Who's this for? If you're worried about having enough money to pay for care, Northwestern Mutual policies offer maximum monthly benefits of up to $15,000 in some states, which is higher than many other providers.
Standout benefits: Northwestern Mutual also has a standalone long-term care policy, QuietCare. This policy is open to applicants as old as 79 and features customizable coverage and elimination periods.
Northwestern Mutual Long-Term Care Insurance
Standout features
Northwestern Mutual offers QuietCare, a standalone LTC policy, and Long-Term Advantage, a tax-deductible hybrid plan that taps life insurance benefits.
Age limits
QuietCare: 30 to 79, Long-Term Advantage: 40 to 75
Maximum benefit
Monthly benefits for QuietCare: $12,000 per month ($15,000 in some states). Long-Term Advantage: Up to $15,000 per month.
Benefits period
QuietCare: 36 to 72 months; Long-Term Advantage: Up to 72 months
Pros
- Standalone policies are available up to age 79
- Spousal discount up to 30%
- Benefit limits up to $15,000 a month
Cons
- Policies require a medical exam
- Long-Term Advantage not available in New York or California
- Limited information on website
Best for inflation protection: Brighthouse Financial
Who's this for? Brighthouse's hybrid policies can stand the test of time. Its SmartCare plan can be set up as a fixed-growth policy, which increases 5% annually to protect against inflation, or as an indexed universal life insurance policy, which links your benefits to an index like the S&P 500 but retains a minimum interest rate to protect you from market downturns.
Standout benefits: SmartCare is only offered as a cash indemnity policy, so you get the full amount each month instead of filing receipts for reimbursement.
Brighthouse SmartCare
Standout benefits
Brighthouse SmartCare is a hybrid life insurance policy with a guaranteed death benefit for your loved ones and a long-term care benefit if you need it. The indexed universal life plan can remain level, be tied to a fixed rate or grow with a market index.
Age limits
Available to ages 40 to 75.
Maximum benefit
Not available.
Maximum benefits period
4 or 6 years.
Pros
- Offered as a level-benefit, fixed-growth or indexed universal life policy.
- Cash indemnity benefit
- May not require medical exam
Cons
- Strict approval guidelines with many disqualifying conditions
- No online quotes
- Somewhat high volume of complaints
What is long-term care insurance?
Long-term care insurance can cover services and support if someone is diagnosed with a disability or chronic medical condition. Typically, benefits kick in once someone needs help with the basic activities of daily living (ADLs).
The six ADLs are:
- Bathing
- Dressing
- Eating
- Continence
- Using the bathroom
- Moving from a bed to a chair
In most cases, you must be unable to perform two out of six ADLs for long-term care benefits to be triggered. And, as with other kinds of insurance, there are lifetime coverage limits and waiting periods.
How much does long-term care insurance cost?
The annual cost of long-term care insurance for a 55-year-old single man buying coverage in 2025 was $950 for $165,000 in benefits, according to the most recent data available from the American Association for Long-Term Care Insurance (AALTCI). For a 55-year-old woman and the same benefit amount, the average cost was $1,500 per year. For couples who are both 55, the cost of a joint policy was $2,080.
What does long-term care insurance cover?
Long-term care insurance covers the costs of assistance and other services that help keep you safe while maintaining your quality of life as you age.
Depending on the policy you buy and your individual needs, long-term care insurance can cover everything from home health care and adult daycare to the cost of entering an assisted living or skilled nursing facility.
Riders and supplements can also help with meal delivery, medical equipment, home modifications (like ramps and stair lifts) and training a family member to help with caregiving.
What are the main types of long-term care insurance?
There are three types of long-term care insurance. The right coverage depends on your budget, your desire for care and whether you have life insurance.
Standalone
Unlike life insurance, a standalone policy is intended solely to pay for care. Due to rising health care costs and increased longevity, many insurers have stopped offering standalone policies, with only six insurers currently selling them. They may be more expensive than other options, as well.
Hybrid
Hybrid or linked-benefit policies tie long-term care coverage to a life insurance policy. Using long-term care benefits reduces the amount available for the death benefit or cash surrender value.
Long-term care rider
Another hybrid option is adding a long-term care rider to your life insurance policy. This would enable you to access some or all of your death benefits while you're alive to cover expenses.
Long-term care insurance: Pros and cons
- Can help you stay in your home longer, assisting with access to caregivers and medical equipment.
- If your policy qualifies as a long-term care partnership plan, each dollar you contribute equals a dollar you don't have to spend to qualify for Medicaid.
- Some long-term care insurance premiums can be tax-deductible, and the benefits you receive are usually tax-free.
- Can be expensive, especially for retirees on a fixed income.
- Many policies do not compensate family caregivers.
- If you are older, have a pre-existing condition or are in poor health, you may face higher premiums or not be eligible.
- You may never use your policy.
Long-term care insurance FAQs
What is the biggest drawback of long-term care insurance?
Cost can be a big obstacle for long-term care insurance, especially if you want a standalone policy. Policies average between $950 and $1,500 for individuals and over $2,000 for a married couple.
What is the oldest age you can get long-term care insurance?
There's no set age limit for long-term care insurance, but most companies cap new policies to people in their 60s or early 70s. Mutual of Omaha issues new policies to people as old as 79.
At what age should I get long-term care insurance?
Long-term care policies are available to people in their 40s, but AARP recommends purchasing coverage in your 50s or early 60s. At that age, you're more likely to still be in good health.
What disqualifies you from long-term care insurance?
There are a variety of reasons you may be turned down for long-term care insurance, including your age. According to AARP, 50% of people aged 70 to 74 were denied policies. Pre-existing conditions, like Alzheimer's disease or cancer, may also exclude you from coverage or result in extremely high premiums.
How much does long-term care insurance cost?
According to the American Association for Long-Term Care Insurance (AALTCI), the average 55-year-old single man would pay $950 per year for $165,000 in benefits in 2025. For a 55-year-old woman and the same benefit amount, the average cost was $1,500 per year. For opposite-sex couples who are both 55, the cost of a joint policy was $2,080.
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Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed financial decisions. Every insurance review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of insurance products. To research the best long-term care insurance companies, we compiled over 100 data points on more than a dozen long-term care insurance companies. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
Our methodology
CNBC Select compared dozens of long-term care insurance companies based on cost, availability, discounts, elimination period, face amounts, riders, benefits periods and age restrictions.
We incorporated customer satisfaction ratings from J.D. Power, the National Association of Insurance Commissioners' complaint index and the Better Business Bureau, as well as financial strength scores from A.M. Best
We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.
Based on these criteria, our choices for the best long-term care insurance are:
Best for comparison shopping: GoldenCare
Best for seniors: Mutual of Omaha
Best hybrid long-term care insurance: Nationwide
Best for couples: New York Life
For customer service: MassMutual
For high benefit limits: Northwestern Mutual
For inflation protection: Brighthouse
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