Long-term care insurance

What is long-term care?

Long-term care is the assistance people need when they can no longer perform some or all basic activities of daily living, which can include eating, bathing, continence, dressing, toileting and transferring (moving in or out of a bed, chair or wheelchair). Long-term care needs typically arise as part of the normal aging process, but can also be due to injury or illness.

Learn how long-term care insurance can help cover your assisted care costs.

Policies are underwritten by Bankers Life and Casualty Company, except policies issued in New York, which are underwritten by Bankers Conseco Life Insurance Company

Who needs long-term care insurance?

70% of Americans over 65

expect to use some form of long-term
care services*

The average cost for a
private room in a nursing home is

$6,965 per month**

Help protect your finances from assisted care expenses.

Thanks to advances in medicine, retirees are living longer, more independent lives. As a result, someone turning age 65 today has almost a 70% chance of needing some type of long-term care*. Although many people assume Medicare will cover this expense, it often doesn’t. That’s why a growing number of retirees are turning to long-term care insurance to protect their futures. Coverage for nursing home care, home health care or both helps you maintain control of where you will receive care, and it helps protect your life’s savings from the high cost of assisted care services.

New from Bankers Life - Guaranteed Lifetime Income Annuity

Types of assisted care coverage

Comprehensive long-term care insurance

  • Offers freedom of choice

  • Covers both nursing home and home health care expenses

Home health care insurance

  • Addresses costs associated with home health care only

  • Allows you to maintain independence should you need visits from a nurse or help around the house

Facility-only long-term care insurance

  • Covers expenses associated with nursing homes, assisted living facilities and Alzheimer's facilities

Short-term care insurance

  • Provides protection for at-home and facility care for needs lasting less than one year

Sorting through options for long-term care coverage can be overwhelming

Our knowledgeable insurance agents sit down with you to understand your preferences and goals. They'll provide you with simple, clear choices and help customize a policy that meets your individual needs. You can count on your Bankers Life insurance agent to help make complex financial decisions about your future easier.

Insurance solicitation. A licensed insurance agent may contact you.

California residents – Specific individual long-term care insurance policy forms offered in California are available to a prospective applicant upon request. Please contact us using the non-claim inquiries toll free number shown on our Contact Us page.