7 Best Long-Term Care Insurance Companies Compared for 2026

More than half of Americans over 65 will need help with basic activities at some point. Long-term care services cost between $60,000 and $100,000 per year on average. A private room in a nursing home averages $9,733 monthly as of 2023. Women typically need care for 3.7 years compared to 2.2 years for men.

Premium costs vary by age and gender. A 55-year-old woman might pay around $1,500 annually, while a 60-year-old woman pays closer to $1,900. Couples often get better rates—a pair of 55-year-olds might pay about $2,080 yearly for joint coverage.

Six companies sell traditional long-term care insurance. This guide compares traditional and hybrid policies from seven providers, including specialized brokers. We look at financial ratings, coverage features, pricing, and which customers each company serves best.

• Mutual of Omaha
  • Mutual of Omaha key features
  • Mutual of Omaha pros and cons
  • Mutual of Omaha pricing
  • Mutual of Omaha best for
• Nationwide
  • Nationwide key features
  • Nationwide pros and cons
  • Nationwide pricing
  • Nationwide best for
• New York Life
  • New York Life key features
  • New York Life pros and cons
  • New York Life pricing
  • New York Life best for
• GoldenCare
  • GoldenCare key features
  • GoldenCare pros and cons
  • GoldenCare pricing
  • GoldenCare best for
• MassMutual
  • MassMutual key features
  • MassMutual pros and cons
  • MassMutual pricing
  • MassMutual best for
• Northwestern Mutual
  • Northwestern Mutual key features
  • Northwestern Mutual pros and cons
  • Northwestern Mutual pricing
  • Northwestern Mutual best for
• Brighthouse Financial
  • Brighthouse Financial key features
  • Brighthouse Financial pros and cons
  • Brighthouse Financial pricing
  • Brighthouse Financial best for
• Comparison table
• Conclusion
• FAQs

Mutual of Omaha

Mutual of Omaha entered the long-term care insurance market in 1987 and has been operating since 1909. The company holds strong financial ratings: A+ (Superior) from A.M. Best, A1 from Moody's, and A+ from S&P Global.

Key features

Mutual of Omaha offers two policy options. The MutualCare Secure Solution uses benefit multipliers—24, 36, 48, or 60 months—to set your total coverage. A $3,000 monthly benefit with a 60-month multiplier gives you $180,000 in coverage.

MutualCare Custom Solution provides policy limits between $50,000 and $500,000 in $500 increments, with elimination periods starting at 30 days or immediately.

Both plans include:

• Cash benefit: up to 25% of policy value paid without receipts
• Care coordination: licensed healthcare professionals create individualized care plans
• Waiver of premium: payments stop while you're receiving benefits
• Alternate care: coverage for future services not yet available

You can add inflation protection (1–5%), shared care for couples, and return of premium benefits.

Pros and cons

Pros:

• Monthly cash benefits without expense documentation
• Elimination period waived for home health care
• Discounts up to 30% for couples, 15% for preferred health
• Policies available up to age 79
• Strong financial stability ratings
• Below-average complaint ratios

Cons:

• Premiums can increase over time
• No hybrid policies
• Three-year relationship requirement for couples discount
• Customer support unavailable on weekends

Pricing

Rates depend on age, gender, health, and coverage choices. Sample rates for a 60-year-old in New York City:

Monthly benefit

Female

Male

$4,000

$362

$212

$5,000

$452

$266

$6,000

$542

$319

Sample premiums as of September 2024

Available discounts:

• 15% when both partners purchase identical policies
• 5% for married individuals whose partner doesn't purchase
• 15% preferred health discount

Premiums increase with age at application.

Best for

Mutual of Omaha works well for:

1. Couples: joint policy discounts reach 30% with shared-care options
2. Simplicity seekers: cash benefits don't require receipts
3. Older applicants: available up to age 79
4. Those wanting flexibility: custom solutions with multiple inflation and elimination period options
5. Those planning ahead: the Alternate Care benefit covers emerging services

Mutual of Omaha is a traditional long-term care provider with customizable options and established financial stability.

Nationwide

Nationwide offers hybrid policies that blend life insurance with long-term care benefits. The company has an A+ rating from both A.M. Best and Standard & Poor's.

Key features

Nationwide's long-term care products include three main options:

• CareMatters combines life insurance and long-term care in one policy with guaranteed premiums and benefits. It uses a cash indemnity structure—you get the full monthly benefit without submitting receipts.
• CareMatters Together creates a shared benefit pool for couples with guaranteed premiums and a death benefit payable when the second person passes.
• Long-Term Care Rider can be added to Nationwide's universal life insurance, providing an income-tax-free death benefit if you never need long-term care.

With the cash indemnity structure, you can use benefits for anything, including paying family members for care. Unused death benefits go to your beneficiaries.

Pros and cons

Pros:

• Cash benefits with no restrictions on how you spend them
• Guaranteed premiums that never increase
• You can pay family members for care
• Multiple inflation protection options
• Guaranteed minimum death benefit of at least 20% even after using long-term care benefits
• Highly rated for customer service
• Very low complaint ratio (0.10—well below industry average)

Cons:

• No standalone long-term care policies available
• Medical exam may be required
• CareMatters Together not available in California or New York
• Benefits can't be transferred between spouses
• Generally costs more than traditional standalone policies

Pricing

A Nationwide survey found that 56% of people guessed long-term care premiums exceed $150 monthly, with 20% thinking costs run over $500—nearly four times the actual price for similar coverage.

CareMatters hybrid policies typically run $300 to $600+ monthly, covering both life insurance and long-term care.

Sample monthly premiums for a 55-year-old (regardless of gender):

Monthly benefit

Monthly premium

$4,000

$333.33

$6,000

$500.00

$8,000

$666.67

Sample premiums across Arizona, Florida, Pennsylvania, Texas

Nationwide offers flexible payment options:

• Lump sum
• 5 or 10 years
• Until age 65
• Until age 100

Best for

Nationwide works well for:

1. Those seeking rate guarantees: premiums lock in and never increase
2. People who want simplicity: cash indemnity means no receipts or waiting for reimbursement
3. Family-focused planners: you can pay relatives directly for care
4. Legacy planners: guaranteed death benefits ensure beneficiaries get something even if you use all benefits
5. Couples: CareMatters Together offers shared benefits for partners

Nationwide blends long-term care protection with legacy planning in a way that traditional policies from other companies don't.

New York Life

New York Life has over 100 years of insurance experience. About 70% of people 65 and older will need some form of long-term care. The company holds top financial ratings: A++ from A.M. Best, Aaa from Moody's, and AAA from Fitch.

Key features

New York Life offers two product lines:

NYL My Care is their traditional long-term care insurance:

• Covers up to 80% of monthly care costs
• Includes home care, facility care, and care planning
• Equipment coverage up to $5,000 lifetime
• Several inflation protection options
• No premium increases for the first three years
• Dividend eligibility after three years

Asset Flex combines long-term care with universal life insurance:

• Creates a tax-deferred pool for long-term care needs
• Covers up to seven years of care
• Guarantees a residual death benefit around $10,000 even after using all benefits
• Return-of-premium options if you cancel

New York Life pairs you with a care planner to coordinate services.

Pros and cons

Pros:

• Top financial strength ratings across all major agencies
• Local agents in all 50 states
• One streamlined policy combining long-term care and life insurance
• 30-day free-look period
• Three-year rate guarantee on traditional policies
• 25% discount for partners (10% if only one partner is approved)
• 5% discount for existing New York Life customers
• Streamlined online claims process

Cons:

• No online quotes—you must contact an agent
• Premiums can rise up to 40% after the three-year rate lock expires
• Strict underwriting standards may exclude some applicants
• Age limit of 79
• Medical exam often required

Pricing

Premiums vary by policy type, age, gender, and coverage amount:

Monthly benefit

Premium (man, 55)

Premium (woman, 55)

$1,500

$24.93

$42.13

$3,000

$49.86

$79.28

$5,000

$84.65

$134.59

$7,000

$119.45

$189.93

NYL My Care sample premiums

Asset Flex requires higher upfront costs. A 55-year-old non-smoking woman might pay $50,000 one time for:

• $336,153 maximum long-term care benefit
• $112,051 life insurance death benefit if long-term care is never used
• Approximately $10,000 residual death benefit if all care benefits are used

Best for

New York Life works well for:

1. Security-focused consumers: the company's top financial ratings appeal to those who prioritize stability
2. Estate planners: Asset Flex ensures beneficiaries receive benefits even after using care coverage
3. Discount seekers: partners get 25% off, existing customers 5%
4. Those wanting guidance: care planning services help navigate options
5. Younger applicants: buying before 50 locks in lower premiums long-term

New York Life combines traditional and hybrid offerings with strong financial backing, making it appealing to security-conscious buyers.

GoldenCare

GoldenCare is a specialized broker established in 1974. It connects consumers with insurance providers but doesn't issue its own policies. The company partners with 19 carriers.

Key features

The brokerage model gives you access to multiple insurers through one point of contact:

• Expert guidance: dedicated specialists develop individualized care plans
• Multi-carrier access: partners include Mutual of Omaha, Aetna, Thrivent, and National Guardian Life plus 15 others
• Short-term care options: more affordable than traditional long-term care, especially for women
• Broad product range: long-term care, critical care, Medicare options, prescription drug plans, life insurance, final expense coverage, and annuities
• Educational resources about costs, coverage options, and state partnership plans
• Partnership program expertise: helps you access Long-Term Care Partnership Programs that work with Medicaid in qualifying states to protect assets

(Company tagline: "planning today for a secure tomorrow")

Pros and cons

Pros:

• Streamlines comparison shopping across multiple insurers
• Over 40 years of specialized experience
• 4.8/5 stars for customer satisfaction on ConsumerAffairs
• A+ rating from Better Business Bureau
• Access to educational resources about policy types and costs
• Cons:

Doesn't underwrite policies directly

• No online comparison tool for premiums—policies are too personal and complex for a standard calculator
• Must contact an agent for specific pricing

• Information may differ from carrier websites
• Pricing

GoldenCare doesn't publish direct pricing but offers an interactive map showing long-term care costs across states, helping you estimate coverage needs by location.

Sample annual nursing home costs:

State

Nursing home

Assisted living

Home health

New York

$135,630

$64,374

$54,317

Texas

$56,787

$50,398

$68,160

Minnesota

$93,272

$35,039

$73,696

Arizona

$84,319

$49,094

$57,086

GoldenCare cost comparison tool

Premium quotes require an online form. An agent then contacts you to discuss options and pricing from different carriers.

Best for

The brokerage model works well for:

Comparison shoppers: explore multiple companies without contacting each separately

1. Education-focused buyers: understand long-term care before purchasing
2. Those wanting expert advice: navigate various policy options
3. Short-term care seekers: interested in more affordable short-term alternatives
4. Those with health issues: may qualify for critical illness plans if traditional LTC insurance isn't available
5. GoldenCare emphasizes that 70% of people turning 65 will need some form of long-term care.

GoldenCare educates consumers that 70% of people turning 65 will likely need some form of long-term care.

MassMutual

MassMutual was founded in 1851 and manages over $1 trillion in life insurance protection. The company discontinued most traditional standalone policies in 2021 and now focuses on hybrid long-term care solutions.

Key features

MassMutual offers two hybrid options:

• CareChoice One: single premium payment at purchase
• CareChoice Select: level premiums paid over 12 years

Each policy includes three guarantees:

1. Long-term care benefits pool (available after 90-day elimination period)
2. Guaranteed death benefit equal to the policy amount
3. Guaranteed policy surrender value, typically increasing annually

Coverage includes:

• Home health care
• Assisted living
• Nursing home care
• Hospice
• Adult daycare

MassMutual has paid annual dividends to policyholders every year since 1869.

Pros and cons

Pros:

• Single-premium or 12-year payment options
• Strong financial ratings (A++ from A.M. Best, AA+ from S&P, Aa2 from Moody's)
• Medical exam usually not required
• Dividend eligibility can increase cash surrender value
• Licensed in 49 states

Cons:

• Death benefit decreases when you use long-term care benefits
• Limited policy design options
• No policy cash-out option
• Extended policies cost more
• Traditional long-term care insurance discontinued in most states

Pricing

MassMutual's hybrid policies cost more than traditional standalone policies because they include life insurance.

Premiums depend on:

• Age at purchase
• Health status
• Gender
• State of residence
• Selected benefit amount

Both the life insurance and long-term care rider go through underwriting.

MassMutual has requested premium increases on some existing policies due to higher-than-expected payouts across the industry.

Best for

MassMutual works well for those who value:

1. Company stability: 170+ year history with top financial ratings
2. Dividend income: consistent annual payments since 1869
3. Guaranteed benefits: three-way guarantee covering care, death, and surrender value
4. Single payment: CareChoice One eliminates ongoing premiums
5. Asset protection: shield retirement savings from care costs

MassMutual appeals to people seeking hybrid solutions with guaranteed benefits.

Northwestern Mutual

Northwestern Mutual began offering long-term care insurance in the 1990s and is now one of the largest providers, with approximately 138,000 policies in force. The company was founded in 1857 as the Mutual Life Insurance Company of the State of Wisconsin.

Key features

Northwestern Mutual offers two main products:

QuietCare is their traditional standalone policy, introduced in 1998:

• Monthly benefits from $1,500 to $12,000 in $100 increments
• Benefit periods: 3 or 6 years
• Elimination periods: 6, 12, 25, or 52 weeks
• Inflation protection options (3%, 4%, 5% compounded)

Long-Term Advantage is a newer hybrid launched in 2022:

• Six years of guaranteed long-term care coverage
• Potential for up to 10 years of total coverage
• Guaranteed death benefit if long-term care isn't needed
• Flexible payment options—lump sum or periodic payments

All policies are eligible for dividends, which Northwestern Mutual has paid consistently every year since 1872.

Pros and cons

Pros:

• Top financial strength ratings: A++ (A.M. Best), AA+ (S&P), Aaa (Moody's)
• Has never requested a rate increase on existing policies
• More flexible health underwriting than many competitors
• Dividends help reduce future premiums
• New features offered to existing policyholders when available
• Financially stable with $561 billion in combined assets

Cons:

• Quotes available only by speaking with an agent
• Limited benefit period options compared to competitors
• No preferred health discounts
• Premiums run 50–60% higher than other financially stable insurers
• No shared care options for couples
• Partnership policies unavailable in New York, California, Connecticut, and Indiana

Pricing

Scenario

Northwestern Mutual

Competitor B

Competitor C

Single female, 57

$1,305/year

$1,270/year

$1,545/year

Single male, 57

$1,305/year

$825/year

$1,200/year

Married couple, 61/60

$2,225/year

$1,736/year

$3,115/year

For $162,000 initial benefit with no inflation protection

Best for

Northwestern Mutual suits people who prioritize financial stability and those who might not qualify for stricter health requirements elsewhere. Dividends grow over time, benefiting long-term policyholders. The hybrid policies combine care protection with life insurance in one plan.

Brighthouse Financial

Brighthouse Financial spun off from MetLife in 2017. Its history traces back to Travelers Insurance Company, founded in 1863. The company's main product, SmartCare, combines indexed universal life insurance with long-term care coverage and launched in 2019.

Key features

SmartCare is a cash indemnity plan—you get the full monthly benefit amount once you qualify, with no receipts or expense tracking required. Three benefit options are available:

• Indexed benefit: increases based on market performance tracking indices like S&P 500, Russell 2000, or MSCI EAFE (capped at an annual maximum)
• Fixed growth benefit: increases 5% annually, compounded
• Level benefit: stays the same throughout the policy

Benefit periods: 2, 4, or 6 years.

Pros and cons

Pros:

• Cash indemnity pays full benefits regardless of actual care costs
• Death benefit provided if long-term care benefits aren't fully used
• Simple underwriting with 24-hour decisions typical
• Full international coverage
• Terminal illness benefit up to $250,000 or 50% of policy amount

Cons:

• No standalone long-term care policy
• Financial ratings not as strong as competitors
• Limited track record as an independent insurer (since 2017)
• Premium payment limited to single lump sum or 5 years

Pricing

SmartCare offers two payment approaches: single premium or annual payments over 2–5 years. Indexed universal life components track selected indices with cap rates reflecting maximum interest credited and floor rates ensuring a 0% minimum during negative market performance.

Best for

Brighthouse Financial suits those seeking market-linked growth potential, valuing simplicity through cash indemnity, traveling internationally and needing global coverage, wanting guaranteed death benefits, or qualifying for simplified underwriting without medical exams.

Comparison table

Company

Policy types

Financial ratings

Key distinctive features

Notable pros

Notable cons

Best suited for

Mutual of Omaha

Traditional (MutualCare Secure, MutualCare Custom)

A+ (A.M. Best), A1 (Moody's), A+ (S&P)

Cash benefit up to 25% without receipts; benefit multipliers (24–60 months); policy limits $50,000–$500,000

Couple discounts up to 30%; policies to age 79; strong financial stability

Premiums may increase; no hybrid options; no weekend support

Married couples; older applicants; those wanting flexibility

Nationwide

Hybrid only (CareMatters, CareMatters Together)

A+ (A.M. Best), A+ (S&P)

Cash indemnity; guaranteed premiums; can pay family members for care

No receipts required; locked-in rates; very low complaints (0.10)

No standalone policies; medical exam may be required; higher than traditional policies

Those wanting rate guarantees; family-centered planning; legacy protection

New York Life

Traditional & hybrid (NYL My Care, Asset Flex)

A++ (A.M. Best), Aaa (Moody's), AAA (Fitch)

Covers 80% of costs; equipment coverage to $5,000; three-year rate guarantee

Highest financial strength; nationwide agents; 25% partner discounts

No online quotes; strict underwriting; age 79 maximum

Security-conscious; estate planners; younger applicants

GoldenCare

Broker (multiple carriers)

N/A

Access to 19 carriers; short-term care options; partnership program expertise

Comparison shopping streamlined; 40+ years experience; A+ BBB rating

Doesn't underwrite; no online comparison tool; agent contact required

Comparison shoppers; education seekers; short-term care interested

MassMutual

Hybrid only (CareChoice One, CareChoice Select)

A++ (A.M. Best), AA+ (S&P), Aa2 (Moody's)

Single or 12-year payments; annual dividend eligibility; three guaranteed benefits

Strong ratings; no medical exam usually required; dividend history

Death benefit decreases with use; limited design options; no cash-out

Stability-focused; dividend seekers; single-payment preference

Northwestern Mutual

Traditional & hybrid (QuietCare, Long-Term Advantage)

A++ (A.M. Best), AA+ (S&P), Aaa (Moody's)

Monthly benefits $1,500–$12,000; dividend payments since 1872; no historical rate increases

Top financial strength; flexible health underwriting; consistent dividends

No online quotes; limited benefit periods; premiums 50–60% higher

Stability-focused; long-term holders; applicants with health concerns

Brighthouse Financial

Hybrid only (SmartCare)

Not specified in article

Indexed benefit growth; cash indemnity; global coverage

No receipts required; 24-hour underwriting; worldwide benefits

No standalone policies; limited payment schedules; established 2017

Market-growth seekers; international travelers; simplified underwriting candidates

Conclusion

These seven long-term care insurance providers differ in policy types, financial strength, and target markets. Traditional policies from Mutual of Omaha offer straightforward coverage with potential premium increases. Hybrid policies from Nationwide, MassMutual, and Brighthouse combine life insurance with locked-in premiums.

Financial ratings vary. Northwestern Mutual and New York Life have the highest ratings. Brighthouse, as a newer independent company, has adequate but less established credentials. Mutual of Omaha offers substantial couple discounts—up to 30%—that can meaningfully reduce costs.

Most providers have age limits around 79, with earlier enrollment generally lowering premiums. Underwriting requirements differ. Northwestern Mutual accepts applicants with more health issues than some competitors.

GoldenCare is a broker, not an insurer. It connects you with multiple carriers so you can compare without calling each company individually.

Your choice depends on what matters most. Those prioritizing financial stability might lean toward Northwestern Mutual or New York Life. Couples wanting discounts often benefit from Mutual of Omaha's joint policies. Those wanting premiums locked in might prefer Nationwide or MassMutual's hybrid options.

Comparing quotes from multiple providers, examining benefit structures, and understanding underwriting rules helps you find the right fit for your needs and budget.

FAQs

Q1. What is the average cost of long-term care insurance? Costs vary widely based on age, health, and coverage amount. A 55-year-old typically pays $1,500 to $2,500 annually. A couple in their mid-50s might pay around $2,080 yearly for joint coverage.

Q2. At what age should I consider purchasing long-term care insurance? Generally, your 50s or early 60s is a good time. Buying earlier usually means lower premiums and better approval odds, since health issues are less common at younger ages.

Q3. What's the difference between traditional and hybrid long-term care insurance policies? Traditional policies cover only long-term care expenses. Hybrid policies combine long-term care with life insurance. Hybrids often lock in premiums and provide death benefits if care isn't needed, but they cost more upfront.

Q4. Do long-term care insurance policies cover in-home care? Yes, most cover home care along with assisted living and nursing homes. Coverage details vary, so review each policy's specific benefits.

Q5. How do I choose the best long-term care insurance company? Consider financial stability ratings, policy options, premium costs, underwriting standards, and customer service reputation. Get quotes from multiple providers and consult a financial advisor who specializes in long-term care planning.