Do not be surprised when the long term care insurance cost that you come across is less or more than that of your friend’s. Because these insurance policies were customized to fit the policyholder’s preferences, different factors affect the cost.

To address the question, “how much does long term care insurance cost,” here are the six main factors that affect long term care insurance rates:

Age and Health

Age and health go hand-in-hand when it comes to policy prices. The general rule is that the younger and healthier a person is when he or she applies, the lower the premiums he or she pays.


The cost of long term care services differ from state to state, so it follows that the premiums also vary based on your location.

Apart from the main factors, these five long term care policy features also have an impact on long term care insurance cost.

Type of Policy

The type of policy—reimbursement, indemnity, and partnership—determine how policyholders pay off claims. The type of policy you choose will have an effect on the cost.

Benefit Period

From a year to a lifetime of coverage, your benefit period is how long the policy you purchase will pay off your claims. How long you choose to be covered will determine the premiums you pay.

Daily Benefit

The daily benefit is the predetermined benefit amount you receive to cover you daily long term care needs.

Elimination Period

The elimination period is the time in which you wait before receiving the benefits. During this time, you will have to shoulder the costs of any care you receive.

Inflation Protection

The inflation protection feature that long term care insurances have protects your daily benefits against future rate increases. It helps you keep your care costs from exceeding your daily benefit and paying from your own pocket.