Long-term care insurance calculator

How to read your results

This calculator compares your total premiums paid (if you pay for the estimated number of years before needing care) against the maximum benefit payout (daily benefit × 365 × benefit period years). It also shows the break-even point in actual days of care needed for the policy to have "paid for itself."

What this calculator doesn't include

• Inflation protection riders — many policies offer (for extra cost) automatic benefit increases to keep pace with rising care costs; without this, a policy bought today may cover far less of actual costs decades from now.
• Premium increases over time — LTC premiums are not always guaranteed level; insurers have raised rates significantly on existing policyholders in the past.
• Self-insuring alternative — instead of buying a policy, some people set aside the premium amount in an investment account as a self-funded care reserve, which has more flexibility but more risk.
• Hybrid life/LTC policies — newer combination products offer a death benefit if LTC is never needed, addressing the "wasted premium" concern of traditional LTC insurance.

The case for buying earlier rather than later

Premiums are significantly cheaper when purchased in your 50s rather than 60s or later, both because of lower base rates and because health-based underwriting becomes stricter (and coverage can be denied) as health conditions develop with age. Waiting "until you need it" is rarely possible — most policies require medical underwriting.