Best Long-Term Care Insurance Companies 2025
Find the best long-term care insurance providers for 2025 with expert ratings and comparisons.
Best Long-Term Care Insurance Companies of 2025
Planning for your future healthcare needs is one of the most important financial decisions you can make. Long-term care insurance provides protection against the potentially devastating costs of extended care, whether in a nursing home, assisted living facility, or at home. With numerous insurance providers offering varying coverage options and pricing structures, selecting the right long-term care insurance company requires careful consideration of multiple factors.
How We Chose Our Top Picks
Our comprehensive evaluation process involved reviewing 11 major insurance providers and scoring them across five critical categories. We consulted 25 authoritative sources to ensure our recommendations were based on accurate, up-to-date information. Our editors and writers evaluated each insurance company independently to maintain editorial integrity and provide precise, unbiased recommendations. This rigorous methodology allows us to identify the insurance providers that best meet the diverse needs of consumers seeking long-term care coverage.
The evaluation criteria included coverage options, available plans, payment terms, policy exclusions, underwriting processes, cost, financial stability, customer reviews, user experience, third-party ratings, and overall accessibility. By analyzing these factors comprehensively, we determined which companies excel in specific areas and which offer the most well-rounded services for different consumer segments.
Our Top Picks for the Best Long-Term Care Insurance Companies
Mutual of Omaha: Best for Stand-Alone LTC Insurance
Mutual of Omaha stands out as the premier choice for consumers seeking dedicated stand-alone long-term care insurance policies. The company is one of just six insurance providers currently offering true stand-alone LTC policies, making it an exceptional option for those who prefer standalone coverage rather than hybrid or linked-benefit plans.
The company offers two primary policy options designed to meet different coverage needs:
- MutualCare Secure Solution: This option provides policyholders with flexibility in choosing between cash benefits or reimbursement-based structures. Coverage periods range from 24 to 60 months, with three elimination period choices: 90, 180, or 365 calendar days. This flexibility allows policyholders to select coverage that aligns with their anticipated care needs and financial situation.
- MutualCare Custom Solution: Designed for those wanting maximum customization, this plan offers a pool of dollars ranging from $50,000 to $500,000 in $500 increments. Policyholders can choose from six elimination period options (0, 30, 60, 90, 180, or 365 days) and can add survivorship and joint waiver of premium add-ons for enhanced protection.
These customizable options make Mutual of Omaha particularly attractive for individuals with specific care preferences and varying financial considerations.
Nationwide: Best for Policy Customization
Nationwide has earned recognition as the leading provider for policy customization, primarily through its innovative CareMatters® II plan. This hybrid policy combines comprehensive coverage options with flexible design elements that set it apart from competitors. Nationwide’s approach allows policyholders to tailor their coverage to precisely match their anticipated needs and financial capabilities.
Key Coverage Details:
- Issue Ages: 40-75 (as of last birthday)
- Benefit Amount: $2,500 to $20,833 per month
- Benefit Period: 2-7 years
- Elimination Period: 90 calendar days
Beyond customization, Nationwide offers several compelling advantages. Policyholders receive inflation protection options, ensuring their coverage keeps pace with rising care costs. Benefits can be paid directly to family members and informal caregivers, recognizing the reality that many people receive care from loved ones. Additionally, Nationwide provides a guaranteed death benefit, offering peace of mind that coverage extends beyond long-term care needs.
However, prospective customers should be aware of certain limitations. Nationwide policies may require medical exams, benefit transfers between spouses are not available, and stand-alone policies are not offered—coverage must be obtained through their hybrid products or riders.
New York Life: Best for Financial Stability
For consumers prioritizing financial security and stability in their insurance provider, New York Life represents the optimal choice. The company demonstrates exceptional financial strength with superior ratings from multiple authoritative agencies: A++ from AM Best, AAA from Fitch, Aaa from Moody’s, and AA+ from S&P. These ratings indicate that New York Life possesses the financial resources to fulfill its long-term care insurance obligations for decades to come.
New York Life ranked above the industry average in both the J.D. Power 2022 and 2023 U.S. Individual Life Insurance Studies, demonstrating consistent customer satisfaction and service quality.
Coverage Options:
New York Life offers three distinct long-term care insurance products:
- New York Life My Care: Features a one-time dollar deductible ranging from $4,500 to $144,000, with coverage of up to 80% of eligible expenses. Lifetime coverage amounts span from $50,000 to $250,000, with benefit periods varying based on selected coverage amounts.
- New York Life Secure Care: Employs a 90-day waiting period instead of a deductible and covers 100% of eligible expenses up to the daily maximum ($100-$250). Benefit periods include 2, 3, 5, 7 years, or lifetime coverage, with lifetime coverage amounts ranging from $36,500 to $1,022,000.
- Asset Flex: A linked-benefit policy providing $750,000 in life insurance combined with $1,750,000 in LTC benefits. The 90-day elimination period can be waived for home care if the policyholder creates a personalized care plan with New York Life.
All three plans include inflation protection options and nonforfeiture benefits after the third year. Additionally, New York Life offers couples discounts on all plans, making it economical for married individuals to obtain coverage together.
Northwestern Mutual: Best for Couples
Northwestern Mutual has distinguished itself as the premier choice for couples seeking coordinated long-term care insurance protection. The company recognizes that couples often have unique needs and offers specialized products designed to provide mutual protection and cost efficiency. With substantial couple discounts and plans specifically structured for married individuals, Northwestern Mutual simplifies the process of securing coverage for both partners.
GoldenCare Insurance: Best for Comparing Multiple Providers
GoldenCare Insurance serves as an excellent resource for consumers who value flexibility and want to evaluate multiple long-term care insurance options from different providers. By offering comparison tools and aggregated information about various insurance companies, GoldenCare enables informed decision-making and helps consumers find the provider that best matches their specific needs and preferences.
Understanding Long-Term Care Insurance Coverage
Long-term care insurance policies vary significantly in their structure, coverage amounts, and benefit periods. Understanding these differences is crucial for selecting appropriate coverage. Most policies offer benefit periods ranging from 2 to 7 years, with some offering lifetime coverage for those concerned about extended care needs. Monthly benefit amounts typically range from $2,500 to $20,833, though this varies by provider and policy type.
Elimination periods—the time before coverage begins—generally range from 0 to 365 days. Choosing a longer elimination period typically results in lower premiums, as you accept responsibility for initial care costs. Conversely, shorter elimination periods provide more comprehensive coverage but come with higher premium costs.
Frequently Asked Questions
Q: What disqualifies you from long-term care insurance?
A: Common disqualifying factors include significant cognitive impairment, severe health conditions, recent hospitalizations, and certain medical diagnoses. Each insurance company maintains specific underwriting guidelines, so eligibility can vary. The best time to apply is when you’re in good health, as pre-existing conditions may complicate approval or result in higher premiums.
Q: How much is long-term care insurance?
A: Long-term care insurance costs vary considerably based on age, gender, health status, coverage amount, benefit period, and elimination period. Younger applicants generally pay lower premiums than older applicants. Policies securing coverage while in your mid-50s to mid-60s typically offer more favorable rates than waiting until later in life.
Q: What are alternatives to long-term care insurance?
A: Alternative approaches include self-insuring (setting aside savings for potential care costs), relying on family caregivers, using government programs like Medicaid, and exploring hybrid life insurance or annuity products with long-term care riders. Each alternative carries different advantages and limitations depending on personal circumstances and financial resources.
Q: When should you buy long-term care insurance?
A: Experts recommend purchasing long-term care insurance in your mid-50s to mid-60s. At this stage, you’re typically still in good health, which results in more favorable underwriting and lower premiums. Waiting until your 70s or later can significantly increase costs or result in policy denial based on health conditions.
Q: What are long-term care insurance state partnership plans?
A: State partnership plans are coordinated programs between insurance companies and state governments. These plans allow individuals to protect a portion of their assets while maintaining eligibility for Medicaid coverage. Partnership plans provide additional asset protection compared to traditional long-term care insurance policies, making them attractive for those concerned about depleting savings.
Q: What do most Americans underestimate about long-term care costs?
A: Most Americans significantly underestimate long-term care expenses. Actual costs average approximately $121,000 annually, far exceeding common estimates of less than $50,000 per year. Understanding realistic cost projections is essential for determining appropriate coverage amounts and evaluating whether long-term care insurance is necessary for your financial situation.
Key Considerations for Selecting Long-Term Care Insurance
When evaluating long-term care insurance providers, consider your financial assets, family medical history, anticipated care preferences (home care versus facility care), and long-term financial goals. The general rule of thumb is that you’re a candidate for long-term care insurance if you have between $200,000 and $2 million in assets.[10] Those with fewer assets may rely on Medicaid, while those with significantly more assets might self-insure.
Financial stability of the insurance provider is paramount, as you need confidence that the company will honor claims decades into the future. Superior ratings from AM Best, Moody’s, Fitch, and S&P provide assurance of financial soundness.
Additionally, evaluate customer service quality, claims processing efficiency, and accessibility of policy management tools. Companies with strong customer satisfaction ratings and responsive support teams ensure a smoother experience when you actually need to file claims.
Summary
Selecting the right long-term care insurance provider requires balancing multiple factors including coverage options, financial stability, customization features, and cost. Mutual of Omaha leads in stand-alone policy offerings, Nationwide excels at policy customization, New York Life provides unmatched financial stability, Northwestern Mutual serves couples effectively, and GoldenCare facilitates comparison shopping. By carefully evaluating your needs and comparing these top providers, you can secure comprehensive protection against the substantial costs of future long-term care.
References
- Nationwide Long-Term Care Insurance Review — Money. 2025. https://money.com/nationwide-long-term-care-insurance-review/
- Best Long-Term Care Insurance Companies of November 2025 — Money. 2025. https://money.com/best-long-term-care-insurance/
- Long-Term Care Insurance: Who Needs It and When to Buy — Money. 2025. https://money.com/when-to-buy-long-term-care-insurance/
- Most Americans Misjudge Long-Term Care Costs — Money. 2025. https://money.com/americans-underestimate-long-term-care-costs/
- Do You Really Need a Long-Term Care Plan? — Money. 2025. https://money.com/long-term-care-insurance-do-i-need/
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