Fact Sheets no. Of the 12 million people needing long-term care, only 1.5 million are in nursing homes. Long-term care doesn't happen just to an individual, it happens to an entire family. When shopping for long-term care insurance, compare at least three companies.
Inflation protection is important.
Premiums are based on your age when you purchase the policy. Nearly two in five people 65 or older spend some time in a nursing home. Half of these stays are less than 90 days, often covered by Medicare. Three-fourths of nursing home stays are less than one year. Men average two years in a nursing home, women four.