Part of our guide: Long-Term Care Insurance: Costs, Options and Planning →
If you’re new to long-term care or only write a few policies a year, it’s worth a closer look. Few products address a risk this large, and few conversations build as much client trust.
Key takeaways
- Long-term care insurance pays for help needed because of a prolonged illness, accident, or aging.
- Without coverage, a single year of care can consume a large share of a client’s savings.
- Traditional, hybrid, and rider-based products mean there’s an option for almost every client and budget.
A private nursing home room now costs about $130,000 a year at the national median. One year of care can erase years of saving.
People need it
Close to 70% of people turning 65 will need some form of long-term care. Health insurance and Medicare don’t cover most extended custodial care, so without coverage it’s paid from savings. At 2025 national medians, a year in assisted living costs about $74,400 and a private nursing home room about $130,000. See current cost of care figures.
People are buying it
Millions of Americans own long-term care coverage, and more buy traditional, hybrid, and rider-based policies every year. The younger and healthier the buyer, the lower the premium, which is why earlier conversations pay off.
There’s a product for most clients
- Traditional LTC insurance: the most benefit per premium dollar, with flexible design.
- Hybrid life or annuity products: care benefits plus a death benefit, so premiums aren’t “lost.” See when asset-based LTC fits.
- Riders: LTC or chronic illness riders added to life insurance.
Getting started
Start with eight ways to open the conversation, and lean on our LTC team for product selection, quoting, and underwriting.
Frequently asked questions
What does long-term care insurance cover?
Care needed because of chronic illness, injury, or aging, such as home care, assisted living, adult day care, and nursing home care.
What types of long-term care coverage are there?
Traditional LTC insurance, hybrid life or annuity products with LTC benefits, and LTC or chronic illness riders on life policies.
Why should financial advisors offer long-term care insurance?
It protects clients’ retirement plans from one of their largest financial risks and deepens the advisor relationship.
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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