Long Term Care Funding Planner Calculator
This calculator helps you evaluate how prepared you are to cover future long-term care (LTC) costs, whether through self-funding, traditional insurance, or a hybrid strategy. Based on your age, retirement assets, and care preferences, it estimates your projected care costs, coverage gap, and recommended funding approach. You can compare strategies for Assisted Living, In-Home Care, or Nursing Facility Care, while factoring in your available funds, estimated duration of care, and spousal status. The tool also identifies whether traditional LTC insurance or hybrid life/LTC products may offer better protection and alerts you if projected care costs could put your spouse’s financial security at risk. Use this planner to explore personalized long-term care strategies that protect your assets, reduce uncertainty, and preserve your financial independence in retirement.
❓ FAQ Section
What is long-term care planning?
Long-term care planning helps you prepare financially for future health or personal care needs that may arise from aging, chronic illness, or disability. It includes evaluating options like self-funding, long-term care insurance, and hybrid life-insurance-based solutions.
What does this calculator estimate?
This tool estimates your total projected long-term care costs, your ability to self-fund those costs, and the potential benefits of traditional or hybrid LTC insurance based on your financial inputs and preferences.
What is the difference between traditional and hybrid LTC insurance?
Traditional LTC insurance covers care expenses directly but premiums are typically “use it or lose it.” Hybrid LTC combines life insurance with LTC benefits, allowing your premiums to provide value even if long-term care is never needed.
How does the calculator determine the recommended strategy?
The calculator analyzes your age, retirement assets, and care costs to estimate your coverage gap and self-funding capacity. It then recommends whether self-funding, traditional insurance, or a hybrid plan may be the most cost-effective fit.
How can I protect my spouse’s financial security?
If care costs are expected to exceed your assets, you may need insurance coverage or hybrid policies that protect a portion of your estate for your spouse. The calculator flags scenarios where spousal protection may be important to consider.
Disclaimer: For Educational Purposes Only
The information, tools, and calculators available on The Retirement Dilemma website are provided exclusively for educational and informational purposes. Their goal is to help you better understand how various retirement income strategies, such as withdrawal rates, investment allocations, and portfolio sustainability, may align with your long-term financial goals. This material should not be considered financial, legal, or tax advice.
All content is developed and reviewed by retirement planning professionals with decades of combined experience in wealth management, portfolio analysis, and retirement income design. However, every financial situation is unique. We strongly encourage you to consult with a qualified financial advisor, tax professional, or fiduciary planner before making any retirement-related decisions.
To ensure accuracy and reliability, our educational content references well-established, nationally recognized sources, including Morningstar, Fidelity, Vanguard, and other respected organizations specializing in retirement research.
Our mission is to provide unbiased, transparent, and practical education to empower you to make informed and confident decisions about your financial future.
