Long Term Care Insurance Market Report 2026

The long term care insurance market size has grown rapidly in recent years. It will grow from $311.44 billion in 2025 to $343.7 billion in 2026 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to increasing aging population, rising healthcare and nursing care costs, limited coverage under public health systems, growing awareness of long-term care planning, expansion of private insurance offerings.

The long term care insurance market size is expected to see rapid growth in the next few years. It will grow to $504.92 billion in 2030 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to increasing adoption of life-ltc hybrid policies, rising focus on preventive and home-based care, expansion of digital policy administration, growing use of health data analytics, increasing demand for sustainable retirement planning. Major trends in the forecast period include increasing demand for hybrid long-term care insurance products, rising focus on in-home and assisted living coverage, growing adoption of data-driven underwriting models, expansion of flexible premium payment options, enhanced integration with health monitoring services.

The increasing life expectancy is expected to propel the growth of the long-term care insurance market going forward. Life expectancy refers to the average number of years a newborn is expected to live under current mortality conditions. The rise in life expectancy is driven by improved medical technologies and better access to effective treatments, which have significantly reduced mortality rates and enabled people to live longer, healthier lives. Long-term care insurance supports this trend by ensuring access to sustained medical care and assistance in later years, helping individuals manage chronic conditions, maintain independence, and improve overall quality of life as they age. For instance, in January 2025, according to a report published by the Peterson Center on Healthcare and KFF, a US-based nonprofit organization, life expectancy at birth in the US rose by 0.9 years in 2023, reaching 78.4 years compared to 2022. Therefore, the increasing life expectancy is driving the growth of the long-term care insurance market.

Major companies operating in the long-term care insurance market are focusing on developing innovative solutions, such as digital insurance engagement interfaces, to enhance customer experience, streamline policy management, and improve operational efficiency. A digital insurance engagement interface refers to a technology-driven platform that facilitates seamless, real-time interactions between insurance providers and policyholders through digital channels. For example, in March 2025, National Guardian Life Insurance Company, a US-based mutual insurance company, launched a new long-term care insurance policyholder portal for submitting claims, reviewing documents, downloading forms, and more. The portal offers features designed to enhance convenience and flexibility, allowing users to access correspondence and policy documents, request and view annual statements, obtain copies of their policy, and review detailed policyholder information such as premium history, beneficiary designations, and third-party assignments. Additionally, policyholders can view claims information, including open or closed claims and payment history, and submit various service requests such as claims inquiries, duplicate policy requests, and beneficiary change forms.

In March 2023, Continental General Insurance Company, a US-based provider of life and long-term care insurance solutions, acquired a block of long-term care insurance policies from Elevance Health, Inc. for an undisclosed amount. Through this acquisition, Continental General seeks to expand its long-term care insurance portfolio while assuming the related policy obligations and liabilities. Elevance Health, Inc. is a US-based health insurance company that provides long-term care insurance policies.

Major companies operating in the long term care insurance market are Metropolitan Life Insurance Company, Nationwide Mutual Insurance Company, New York Life Insurance Company, The Allstate Corporation, Chubb Limited, Massachusetts Mutual Life Insurance Company, Mutual of Omaha Insurance Company, CNA Financial Corporation, Thrivent Financial for Lutherans, Securian Financial Group Inc., Genworth Financial Inc., Transamerica Corporation, Pacific Life Insurance Company, Bankers Life and Casualty Company, The Northwestern Mutual Life Insurance Company, John Hancock Life Insurance Company, National Guardian Life Insurance Company, GoldenCare USA, OneAmerica Financial Partners Inc, Minnesota Life Insurance Company.

North America was the largest region in the long term care insurance market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the long term care insurance market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the long term care insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The long-term care insurance market includes revenues earned by entities by providing services such as adult day care, hospice and palliative care, rehabilitation, hospice and palliative care, and memory care facilities. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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