Long-term care insurance helps cover costs of assisted living and in-home care. Protect your assets and family from high care expenses.
โ Asset protection
โ Home care coverage
โ Tax benefits
โ Flexible options
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All Long-term Care Providers (5)
๐ฅ Genworth
โ 4.800000000000001/5.0
$3300 - $7600
Coverage Types:
Deductible: 30-90 days
Key Features:
- โ Home care
- โ Facility care
- โ Inflation option
PROS
- โข Publishes the industry-standard Genworth Cost of Care Survey annually since 2004, tracking costs across 435+ U.S. regions
- โข One of the longest-tenured LTC carriers with over 1.2 million LTC policyholders, giving it deep claims-paying experience (has paid over $26 billion in LTC claims)
CONS
- โข Stopped selling new traditional standalone LTC policies to the public in 2019 โ existing policyholders only; new buyers must look elsewhere
- โข AM Best financial strength rating of B (Fair) for Genworth Life Insurance Company, well below the A-range ratings of most active LTC competitors
๐ฅ Mutual Omaha
โ 4.7/5.0
$3100 - $7200
Coverage Types:
Deductible: 30-90 days
Key Features:
- โ Home care
- โ Facility care
- โ Inflation option
PROS
- โข One of the few major carriers still actively writing traditional standalone LTC policies (MutualCare Solutions / MutualCare Secure Solution) after Genworth, MetLife, Prudential, and others exited the market
- โข AM Best A+ (Superior) financial strength rating and mutual company structure (policyholder-owned, no shareholder pressure on reserves)
CONS
- โข Has filed multiple in-force rate increases on legacy LTC blocks (a pattern across the entire traditional LTC industry, not unique to Mutual of Omaha, but policyholders have seen premium hikes)
- โข Not available in every state for LTC โ product availability and pricing vary, and the policy is not sold in all jurisdictions at all times
๐ฅ John Hancock
โ 4.6000000000000005/5.0
$2900 - $6800
Coverage Types:
Deductible: 30-90 days
Key Features:
- โ Home care
- โ Facility care
- โ Inflation option
PROS
- โข Tax benefits
- โข Inflation options
CONS
- โข High cost
- โข Medical underwriting
๐ฅ Mass Fin
โ 4.5/5.0
$2700 - $6400
Coverage Types:
Deductible: 30-90 days
Key Features:
- โ Home care
- โ Facility care
- โ Inflation option
PROS
- โข AM Best A++ (Superior) financial strength rating, one of only a handful of life insurers at this top tier โ important for LTC where claims may be paid decades after purchase
- โข Mutual company structure (policyholder-owned since 1851) means dividends and policyholder interests are prioritized over shareholder returns
CONS
- โข No longer sells standalone (traditional) long-term care insurance โ discontinued SignatureCare 500 to new applicants; LTC is only available bundled with whole life via CareChoice riders
- โข Hybrid LTC products require a substantially larger upfront premium or single-pay funding compared to traditional LTC, putting them out of reach for budget-conscious buyers
๐ฅ New York Life
โ 4.4/5.0
$2500 - $6000
Coverage Types:
Deductible: 30-90 days
Key Features:
- โ Home care
- โ Facility care
- โ Inflation option
PROS
- โข AM Best A++ (Superior) financial strength rating, important for LTC policies that may not pay benefits for 20-30+ years after issue
- โข Mutual company structure (policyholder-owned) with a long history of paying dividends on participating products, founded in 1845
CONS
- โข Standalone LTC products are sold only through New York Life's captive career agent force, so consumers cannot comparison-shop the policy through independent brokers
- โข No instant online quoting for LTC โ applicants must go through an agent meeting and full underwriting, which is slower than carriers offering streamlined digital intake
How to Choose
- โข Compare quotes from multiple providers
- โข Review coverage types and deductibles
- โข Check customer ratings and reviews
- โข Look for available discounts
- โข Verify policy terms and conditions
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