Long-term Care Insurance: 10 Must-Ask Questions

Updated June 5, 2025

Should you be paying for long-term care insurance? If yes, what’s the best policy for you? We often help clients answer these questions. Comparing long-term policies head-on requires cutting through the hype and confusing/misleading information, and asking very targeted questions. Following is a checklist with key things to ask and find out. In the process, also ask whether the provider offers policies that combine life insurance and long-term care.

Get These Answered When Comparing Policies

#1. Will all the services I’m likely to ever need be covered?
***Does the policy cover all the different types of care: skilled nursing; custodial care; and home health care?

#2. Is the policy renewable, regardless of my age or physical/mental condition?

#3. When do I qualify for benefits — what events will trigger the payouts?
***Does the policy limit benefits because of any pre-existing conditions?

#4. When do payouts actually begin after the qualifying event?
***Is there a waiting or elimination period?

#5. How much will the policy pay out?
***What is the minimum and maximum daily benefit amount I can purchase?

#5. For how many years will the policy pay benefits?

#6. Will my benefits increase annually, along with the rate of inflation?
***If yes, by how much?
***If not, what is the cost of an inflation rider?

#8. Does this policy qualify for tax benefits (is it tax-qualified)? If yes, the payouts will not be taxed.

#9. Can I upgrade this policy if the insurance company offers a policy that’s a better option for me?

#10. What health conditions am I not covered for?