I recently shared a few quotes with an advisor who’s helping his clients plan for long-term care. He asked whether the premiums were guaranteed—a familiar question that often signals concern about future rate increases. I explained that while premiums are designed to remain level, carriers do reserve the right to adjust rates if necessary.

Later, he mentioned that he owns a policy himself and has experienced a rate increase firsthand. That personal connection added weight to the conversation.

“I completely understand how frustrating rate increases can be. In fact, sometimes I wish premiums weren’t designed to be level—it sets an expectation that’s hard to maintain. I’ve come to expect rising costs across all types of insurance—health, home, auto—and long-term care is no exception. It’s a unique product trying to price something that may not be needed for decades, in a constantly shifting economic landscape. After 15 years in this field, my wife and I chose a plan knowing they’ve raised rates before and may again. We made sure not to overextend ourselves, so even if rates rise, we’re confident it remains the most efficient way to prepare for future care.”

I also wanted to ensure he felt good about the plan he already has. Sometimes, policies are undervalued simply because all the information isn’t available. And if someone isn’t confident in their own coverage, it’s unlikely they’ll advocate for others to get protected.

“One thing I’ve found incredibly helpful is providing context. A 22% increase sounds alarming—no one likes paying more. But that number alone doesn’t tell the full story. When I compare older policies to what’s available today with current pricing, clients often realize they made a smart decision getting their plan. Plus, carriers usually offer landing spots to help soften the impact—like adjusting inflation protection. For example, switching from 5% compound to 3% still offers meaningful benefits with a more manageable premium.”

What if your client was planning on buying new coverage today?  The good news is current plans have more conservative assumptions making rate increases far less likely.  There are even guaranteed premiums on 10-pay traditional LTC plans available. 

Will traditional LTC plans face future rate increases? I can’t say for sure—but I wouldn’t be surprised. That said, no one should feel forced to drop their coverage. When coverage levels, with corresponding premiums, are chosen wisely, it should remain well within affordability—even if adjustments occur.

For those really concerned about premium certainty they can consider Hybrid Life/LTC plans. Because life insurance is included they do come with a higher premiums.

Long-term care insurance isn’t about locking in a premium—it’s about securing peace of mind for the future. While rate increases can be unsettling, they’re part of a broader reality we face. The key is choosing a plan that’s sustainable.  When done right, even with adjustments, it remains one of the most powerful tools to protect against the financial impact of extended care.