70% of people over age 65 will eventually need long-term care.
Long-term Care insurance helps with medical and non-medical needs for those with chronic illnesses or disabilities. It provides coverage in the event that your client may someday not be able to take care of themselves. Long-term Care insurance helps cover costs for care providers and support services. Below is the national average for costs. Medicare does not pay for non-skilled assistance and with daily living expenses. Medicare only pays for Long-term care if your client requires skilled services or rehabilitative care.
National Median Costs for LTC Services
Below are the 2024 national median yearly costs for care provided by CareScout and Genworth.
In-Home Care |
Community & Assisted Living |
Nursing Home Care |
Homemaker Services $75,504 |
Adult Day Healthcare $26,000 |
Semi-Private Room $111,325 |
Home Health Aide $77,792 |
Assisted Living Community $70,800 |
Private Room $127,750 |
How Do I Get Licensed to Sell?
You’ll need to get your life and health license to sell Long-term Care insurance.
You’ll also want to get Errors & Omissions coverage.
If you live in the state of North Carolina, you’ll need to get 2 licenses:
1. Accident/Health/Sickness license
2. Medicare Supplement/Long-Term Care license
You’ll also want to get Errors & Omissions coverage.
If you live in the state of North Carolina, you’ll need to get 2 licenses:
1. Accident/Health/Sickness license
2. Medicare Supplement/Long-Term Care license
Get Started with Long-term Care
Request a copy of our Long-term Care kit below.
