Part of our guide: Long-Term Care Insurance: Costs, Options and Planning →
A client who understands the need for long-term care coverage but balks at the premium isn’t a lost sale. Some coverage is far better than none, and most policies have several levers that can bring the cost within budget.
Key takeaways
- Inflation protection, monthly benefit, benefit period, and elimination period are the biggest premium drivers.
- Partnership-qualified policies have state-required inflation protection by age, so other levers may need to do the work.
- Showing clients several benefit combinations lets them choose the right balance of coverage and cost.
Some long-term care coverage is far better than none. The goal is a plan the client will keep, not the richest plan on paper.
5 ways to dial down the premium
- Adjust inflation protection. Instead of 5% compound lifetime, consider 3% or 4% compound, 5% compound for a limited period, or simple inflation.
- Reduce the monthly benefit to cover part of expected care costs, with savings or income covering the rest.
- Reduce the assisted living benefit if the carrier allows a lower percentage of the facility benefit.
- Shorten the benefit period, for example from five years to three.
- Lengthen the elimination period, the waiting period before benefits begin.
The Partnership exception
If you’re writing a partnership-qualified policy, the inflation protection must meet state requirements based on the client’s age at application. You may not be able to change inflation protection, so adjust the monthly benefit or other features instead. Partnership policies can offer valuable Medicaid asset protection, so it’s usually worth keeping qualification.
Show options side by side
Presenting several combinations helps clients see the trade-offs and choose for themselves, which builds trust and closes more cases. Hybrid designs are another route; see when asset-based LTC is a fit.
Frequently asked questions
How can I make long-term care insurance cheaper?
Lower the monthly benefit, shorten the benefit period, lengthen the elimination period, or choose a less expensive inflation protection option.
What is a long-term care elimination period?
The number of days a client must need care before benefits begin, similar to a deductible measured in time. Longer periods lower the premium.
Can I change inflation protection on a Partnership policy?
Only within state rules. Partnership policies require minimum inflation protection based on the insured’s age at purchase.
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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