Part of our guide: Long-Term Care Insurance: Costs, Options and Planning →
Many retirement-age clients looked at long-term care insurance years ago and walked away because of the premium. They still carry the risk, and today’s flexible designs give you a reason to reopen the conversation.
Key takeaways
- Some protection is better than none: partial coverage still hedges a large share of the risk.
- Retirees respond to conversations about protecting assets and not burdening family.
- Flexible plan design lets coverage fit most budgets.
Retirees who said no to LTC because of cost are still carrying the risk. A smaller plan is still a plan.
1. Reframe coverage as a hedge
Clients often think it’s full coverage or nothing. Explain that even a modest benefit can cover a meaningful share of care costs, with savings or income covering the rest. Having some protection is far better than ignoring the risk.
2. Talk about what they care about
Ask about protecting their retirement assets, how they want to spend retirement with family, and whether they worry about burdening their children with care. These concerns motivate more than product details. See why family shouldn’t be the long-term care plan.
3. Show that it can fit their budget
Modern designs offer choices in benefit amount, benefit period, elimination period, and inflation protection, so coverage can be sized to what a client can afford. Hybrid products funded with idle assets are another option. See five ways to make LTC more affordable.
Frequently asked questions
Is it too late to buy long-term care insurance in retirement?
Not necessarily. Many carriers issue coverage into the 70s, though premiums are higher and health matters more. Hybrid options can also fit retirees.
How can retirees afford long-term care insurance?
By choosing a smaller benefit, shorter benefit period, longer elimination period, or using idle assets to fund a hybrid policy.
What motivates retirees to buy LTC coverage?
Protecting their savings and not burdening their children are usually the strongest motivators.
Reviewed by Tim Fuller on 2026-09-25
Tim Fuller
President, SRS Inc.
Tim leads SRS Inc., a full-service IMO (Independent Marketing Organization) and BGA (Brokerage General Agency), connecting independent financial professionals with life, annuity, disability income, and long-term care solutions from 60+ carrier partners.
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