Long-term care insurance can be custom-fitted to a person’s needs and budget. Because of that, the cost of long-term care insurance is not uniform across all policyholders and is influenced by a number of factors. These are:


Your premiums will be influenced by the level of coverage you choose. Obviously, a policy that pays $100 per each day of care for 3 years will cost lower than a policy that will pay $150 a day for five years.

Other features included in the policy such as the elimination period and additional riders such as inflation protection also affect the cost of your policy.


Age is one of the major factors that affect the cost of long-term care insurance. The younger you buy, the lower your premium will most likely be. That’s why experts advise applying early, especially for those who want to secure more affordable rates.

When you buy younger, the insurer assumes that you will not tap your benefits anytime soon, so the risk they take in insuring you is slimmer as opposed to someone who’s older.


Apart from eligibility, insurance companies also evaluate the overall health of their applicants to determine how much their premiums will be. Individuals with pre-existing conditions are charged more than applicants who apply in good shape.

Also, insurers usually give discounts for applicants who are healthy, and this privilege will stay in effect even if these policyholders develop conditions in the future. Good health discounts can range from 10 to 20 percent.

Insurance Company

Insurers have different pricing systems. In fact, two companies can have a rate difference of 60 to 90 percent for the same level of coverage. However, experts always warn that you shouldn’t choose to buy from a company just because they offer the lowest rates. You also need to look into their performance, claims payment history, and financial strength.


Cost of care varies from state to state, and so does the price of long-term care insurance. The price of long-term care is different from one state to another due to varying costs of living, wealth, and supply and demand for labor.