What Drives a Long-Term Care Premium

Long-term care insurance premiums are locked in largely by the age and health class at purchase — buying at 60 rather than 70 can cut the premium roughly in half because the insurer prices decades of potential claims. Beyond that, every policy lever moves the price: a higher daily benefit raises both the premium and the monthly claim payment; longer benefit periods buy more total pool; inflation protection compounds your daily benefit so care bought decades from now is still affordable (at 3% compound, a $200 daily benefit becomes about $361 in 20 years); and a longer elimination period — the deductible-like waiting period before benefits start — lowers the premium. This estimator applies typical rate tables to those levers so you can see the trade-offs before sitting down with an agent.