Should you require LTC later in life, affordability can be a concern. So why are so few people purchasing Long Term Care insurance?

• Some think health insurance is enough. Individual or employer-sponsored health insurance does not cover LTC expenses. Medicare doesn’t generally cover LTC services, yet 62% of adults aged 50 and older mistakenly think Medicare will pay for their care in a nursing home.⁴ Medicaid will cover some long term care services, but qualifying for Medicaid requires exhausting existing financial resources.
• Many have unspoken expectations. Most adults age 65 and older want to live at home with a family or paid caregiver.⁵ Yet, over 40% have not discussed their LTC plans with others, and even fewer have purchased LTC insurance.⁴ With the cost of LTC services on the rise, families are often relied on to deliver care. In fact, nearly 10% of U.S. adults act as a caregiver to a parent, which can have a negative impact on emotional well-being, physical and mental health, finances, and social lives.⁶
• Others assume LTC insurance is too expensive. The cost of LTC insurance varies depending on your age, health, gender, and the type of policy you buy. Coverage is easier to secure – and cheaper – if purchased while you are healthy. And, the younger you are, the lower the premium.
• Many worry that LTC insurance is a waste. As we age, the chances of needing LTC increase, yet some people may be concerned about spending money on LTC insurance should they never need care. An increasing array of alternative “hybrid” products provide benefits even if you never need LTC.

Long Term Care insurance is complex. An Advisor specializing in LTC insurance can guide you through options and recommend a plan based on your needs, budget, and current health.

Speak to an LTC Advisor – no obligation, no fees.

¹ How Much Care Will You Need? Administration for Community Living. acl.gov/ltc/basic-needs/how-much-care-will-you-need, Retrieved April 21, 2026.
² Many People Will Need Long-Term Care, but Most Don’t Have Insurance to Cover It. New York Times. www.nytimes.com/2026/03/27/your-money/long-term-care-insurance.html, March 27, 2026.
³ AARP Report Finds Long-Term Care Costs Outpacing Americans’ Incomes. AARP. www.aarp.org/caregiving/financial-legal/long-term-care-affordability-report, March 12, 2026.
⁴ Long-Term Care: Are Older Adults Ready? Institute for Healthcare Policy & Innovation. ihpi.umich.edu/national-poll-healthy-aging/national-findings/long-term-care-are-older-adults-ready, May 1, 2025.
⁵ Most older adults who live at home want to age in place, but they aren’t entirely confident they’ll get to. Pew Research Center. www.pewresearch.org/short-reads/2026/02/26/most-older-adults-who-live-at-home-want-to-age-in-place-but-they-arent-entirely-confident-theyll-get-to, February 26, 2026.
⁶ Family Caregiving in an Aging America. Pew Research Center. www.pewresearch.org/social-trends/2026/02/26/family-caregiving-in-an-aging-america, February 26, 2026.