Long-Term Care Insurance:The Essentials® is a revised publication available free to the public from the MetLife Mature Market Institute.  The 25-page booklet contains information that will help consumers sift through the details of a product that is important in planning for the future.  The guide will assist families in making the right choices regarding the need for planning for long-term care, what long-term care insurance policies cover, what they cost and the eligibility factors involved.

“A number of studies indicate that many Americans are under the false impression that Medicaid or Medicare will cover their long-term care needs,” said Sandra Timmermann, Ed.D., director, MetLife Mature Market Institute.  “In fact, Medicaid will only pay for care for a small percentage of people who have few or no assets.  For others, long-term care insurance enables individuals to preserve their assets, to receive the proper care when it is needed and to choose where they receive it.”

Long-term care is assistance provided to those who are unable to perform activities of daily living without assistance due to a physical condition or to those who require supervision and/or assistance due to a severe cognitive impairment.  Long-term care insurance can cover home care, assisted living, adult day care or nursing home care.

The guide counters a common misconception that long-term care insurance is strictly for care in a nursing home.  The booklet also explains terminology used in the long-term care industry, presents basic issues and provides answers to frequently asked questions.

Long-Term Care Insurance: The Essentials answers the following:

  • What are the costs of long-term care? 
  • How do you finance long-term care services? 
  • Is long-term care insurance appropriate for you or a family member? 
  • What are the different types of policies and coverage? 
  • How do I select a policy? 
  • How long will I need coverage? 
  • How and when are benefits paid?

With life expectancy for the average 65-year-old American now placed at 18 additional years or 83 years old, many more Americans will find themselves in need of long-term care.  The costs associated with this type of care are high.  The average yearly cost of home care is $24,700, while assisted living and nursing homes now cost $35,460 and $66,795 on average nationwide, respectively.


Nursing Homes     $66,795/year 
                               (Semi-private rate) 
Assisted Living     $35,460/year 
Home Care           $24,700/year or $19/hr. 
                               (Assumes 5 hours per day, 5 days per week) 
           MetLife Mature Market Institute 2006 Market Survey


The MetLife Mature Market Institute is MetLife’s information and policy center on issues related to aging, retirement, long-term care and the mature market. Staffed by gerontologists, the Institute provides research, training and education, consultation and information to support MetLife, its corporate customers and business partners. MetLife is a subsidiary of MetLife, Inc. (NYSE: MET), a leading provider of insurance and financial services with operations throughout the U.S. and the Latin America, Europe and Asia Pacific regions.

For a free copy of Long-Term Care Insurance: The Essentials, please write to the MetLife Mature Market Institute, 57 Greens Farms Road, Westport, CT 06880, call (203) 221-6580 or e-mail: MatureMarketInstitute@metlife.com. This publication can be accessed at http://www.maturemarketinstitute.com/ under 'What's New.'

Publication not available in VT; there are state-specific versions for FL, TX, OK and CA.

Editor’s note: Publication available at:http://www.maturemarketinstitute.com/under ‘What’s New.’


Christine Bonney
DJC Communications
Debra Caruso