Is Long-Term Care Insurance Worth the Cost?
The cost of long-term care—whether it’s a home health aide, assisted living, or a skilled nursing facility—can quickly drain your retirement savings. Today, the average annual cost of a private nursing home room exceeds $100,000. For families who want to protect their assets and avoid burdening loved ones, long-term care (LTC) insurance is often the only real solution. But is it worth the price?
That depends on your age, health, financial goals, and family history. Traditional LTC policies can offer daily or monthly benefits for care lasting several years. Premiums are based on age and health at the time of application—and the earlier you apply, the lower the cost. However, some carriers have increased rates or exited the market in recent years, leaving many people wondering if alternatives exist.
Hybrid LTC policies—such as life insurance or annuities with long-term care riders—have become popular in recent years. These offer built-in care benefits if you need them, and a death benefit (or cash value) if you don’t. They’re often funded in one lump sum and are guaranteed never to lapse, regardless of health changes.
At Diversified Insurance Brokers, we walk clients through both traditional and hybrid options to create a custom long-term care plan that fits their family and financial needs. Our advisors compare products from dozens of carriers to ensure you’re not overpaying—or underprepared.
👉 Visit our long-term care insurance page here
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Want to explore how LTC coverage could protect your retirement assets?
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