Think Long-Term Care Insurance is Too Expensive? You'll Be Surprised What It Actually Costs

You probably already know there's a good chance you'll need long-term care at some point. You may have watched a parent, spouse, or friend go through it — or worried about how it could affect your family, lifestyle, and legacy.

Maybe you even talked to a financial advisor or insurance agent, got a quote, and walked away thinking, "There's no way I can afford that." The truth: LTC Insurance is often cheaper than your phone bill, and it could save your family thousands.

Here's the truth from experts: Long-Term Care Insurance is more affordable than most people realize. The problem is that many professionals selling it don't specialize in it. They might represent only one company, offer one quote, and move on — without comparing other options or explaining how benefits work.

Experts say that could be costing you peace of mind — and your family, a lot of money, and stress down the road.

Premiums Vary Widely — And Some Are Shockingly Affordable

Let's look at real 2025 numbers from LTC News, which tracks actual LTC Insurance policy premiums across major carriers. The chart below shows monthly premiums for a healthy 50-year-old married individual:

• Male, No Inflation Protection: $33–$50/month
• Female, No Inflation: $49–$75/month
• Male, 3% Inflation: $70–$135/month
• Female, 3% Inflation: $115–$225/month

Yes, you read that right. Depending on your age, health, and the amount of coverage you want, you can get Long-Term Care Insurance for less than a typical cell phone plan. 

Compare that to what Americans are already spending every month:

• According to T-Mobile, the average cell phone bill in 2025: $141/month, with many couples spending more.
• According to NerdWallet, the average household spends on internet, cable TV, streaming services, and phones: $273/month

LTC Insurance premiums often cost less than streaming bundles — yet the benefits could one day save your retirement and ease the tremendous burden long-term care places on your loved ones.

Why Planning Early Pays Off

Most people wait too long to plan — and that's a mistake.

According to Mary Ann DeKing, CLTC, a nationally recognized long-term care specialist with nearly 20 years of experience, many consumers think LTC Insurance is too expensive.

When people tell me LTC Insurance is too expensive, I show them five or six quotes from different top-rated companies. The difference in premiums can be amazing — for the same coverage.

DeKing points out that most general insurance agents and financial advisors simply don't have the specialized experience needed for long-term care planning. They may not fully understand how to design a policy that reflects real-world care needs or how benefits are actually triggered when the time comes. Navigating claims and structuring coverage properly requires expertise that goes beyond the basics of insurance or financial advice.

When you're in your 40s or 50s and healthy, you can:

• Lock in the lowest premiums
• Customize coverage based on your goals and where you live
• Qualify for good health discounts
• Choose inflation protection to keep benefits growing over time

What's at Stake Without a Plan?

• 56% of us who reach age 65 will need long-term care services, according to the U.S. Department of Health and Human Services.
• The LTC News Cost of Care Calculator shows the current and projected cost of long-term care services where you live, and those costs could be $13,000 to over $20,000 a month by 2050.
• In-home care and assisted living costs are the most used types of extended care services, but those costs are surging, and quality care is expensive.

Without LTC Insurance, you're paying out of pocket — or your adult children are. Remember, health insurance and Medicare only pay for short-term skilled care.

That often means:

• Dipping into retirement savings
• Selling assets
• Relocating for more affordable care
• Family members leaving jobs to become caregivers

"My mom needed home care for three years," said Lisa R., a 55-year-old from Ohio.

She had no LTC Insurance, so I moved her in with me and took leave from work. If we'd had an LTC policy, I could've brought in help during the day and kept working.

"I've seen firsthand how long-term care needs can reshape a family's life," says Linda Weyer, a Long-Term Care Insurance specialist with Platinum LTC Solutions.

When my mother began needing help, I had to cut back my work hours significantly. It's emotionally overwhelming and financially draining if you're not prepared. That experience is why I'm passionate about helping others plan ahead—so they can be there for their loved ones without sacrificing their own stability.

This personal experience was a driving force behind Linda's decision to dedicate her career to helping other families navigate long-term care planning.

Weyer says long-term care planning is all about family, and today's LTC Insurance is affordable for most people.

Don't Rely on Guesswork — or One-Size-Fits-All Advice

Here's what you should do:

• Get quotes from multiple top-rated insurers — from a qualified LTC Insurance specialist.
• Work with a certified long-term care specialist — someone who represents the top-rated insurance companies, has substantial experience in long-term care planning has worked through real claims, and can explain policy riders, benefit triggers, tax benefits, the partnership program, and inflation protection.
• Use tools like the LTC News Cost of Care Calculator to understand how care costs are projected to rise in your area.

You don't need a Long-Term Care Insurance policy that covers every possible future expense. DeKing and Weyer say to focus on the most likely situations—in-home care, assisted living, and memory care.

A well-designed policy, combined with a portion of your Social Security income, can go a long way in covering these costs without forcing you to dip into your 401(k) or other retirement savings.

Many experts agree that this approach helps you protect your lifestyle and financial security while allowing your family to remain just that—family—rather than becoming full-time caregivers or coordinators of professional care.

Bottom Line: It's About Protecting Your Family

You protect your home with insurance. You protect your car, your phone, even your pet. But what about your independence? Your savings? Your spouse or adult children?

Long-Term Care Insurance is more than just a monthly premium — it's a plan for how you'll live when you need help with your daily living activities or supervision due to dementia. And for many people, it's one of the smartest moves they can make for their families and finances.

Keep in mind that there are several types of long-term care solutions available. These include traditional policies—some of which are partnership-qualified for added asset protection—hybrid plans that combine long-term care coverage with life insurance or death benefits and short-term cash indemnity policies designed for those with existing health conditions who may have difficulty qualifying for other types of coverage.

Weyer recommends not to wait until health issues limit your options. She says to plan now while premiums are low and choices are broad.