Major Growth Driver Identified in 2025 Long Term Care Insurance Market: Surge In Increasing Life Expectancy Fueling The Growth Of The Market Due To Improved Medical Technologies And Better Access To Effective Treatments

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

Long Term Care Insurance Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In the past few years, we've seen significant acceleration in the size of the long-term care insurance market. Projections indicate that it will expand from $281.77 billion in 2024 to $311.44 billion in 2025, experiencing a compound annual growth rate (CAGR) of 10.5%. This growth trajectory during the historic period can be traced back to several factors: an increasing elderly population, escalating healthcare costs, a rising trend of postponing retirement, heightened awareness about the needs of elderly care, and an increasing dependency on private funding sources for care.

Long Term Care Insurance Market Size Forecast: What's the Projected Valuation by 2029?
Expectations are high for expedited growth in the long-term care insurance market size in the coming years. By 2029, it is predicted to reach a value of $459.00 billion, indicating a compound annual growth rate (CAGR) of 10.2%. This growth during the forecast period is likely due to factors such as the increasing need for home-based care coverages, stress on public health systems, a surging interest in hybrid insurance products, expanding elderly middle-class demographics, and an augmented focus on retirement planning. Key trends expected during the forecast period include advancements in digital processing of claims, the creation of combined life and care policies, innovations in telehealth-supported care models, improved underwriting via health data analytics, and progress in customer-focused plans.

View the full report here:
https://www.thebusinessresearchcompany.com/report/long-term-care-insurance-global-market-report

What Are the Drivers Transforming the Long Term Care Insurance Market?
The growth of the long term care insurance market is predicted to be driven by the expected rise in life expectancy. The term life expectancy pertains to the average lifespan a newborn might have considering the current mortality conditions. This increase in life expectancy is attributed to advancements in medical technologies as well as wider accessibility to effective therapies, which have played a significant role in lowering mortality rates and allowing individuals to lead healthier, longer lives. Long-term care insurance caters to this increased life expectancy by providing sustained medical care and support in the later stages of life. This level of support aids individuals in handling chronic health conditions, maintaining independence, and enhancing overall life quality as they age. For example, a report released by the Peterson Center on Healthcare and KFF in January 2025, noted that in the US, there was a growth of 0.9 years in life expectancy at birth in 2023, making the average life expectancy 78.4 years, an increase compared to 2022. Consequently, the rising life expectancy is fuelling the expansion of the long-term care insurance market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=27101&type=smp

What Long-Term Trends Will Define the Future of the Long Term Care Insurance Market?
Big firms in the long-term care insurance market are concentrating on creating innovative solutions, including digital insurance engagement interfaces, with the aim of improving customer experience, simplifying policy management, and increasing operational effectiveness. This interface is a tech-enabled platform that allows smooth and prompt communication between insurance carriers and their clients via digital means. An example took place in March 2025 when National Guardian Life Insurance Company, a mutual insurance company based in the US, introduced a dedicated portal for its long-term care insurance policyholders for claim submission, document reviewing, form downloading, among others. Policyholders of NGL's long-term care insurance can enjoy a variety of features designed for added convenience and flexibility. The dedicated portal enables users to access correspondence, policy documents, view annual statements, request copies of their policies, and check intricate policyholder details such as premium history, named beneficiaries, and third-party assignments. Moreover, the portal gives policyholders the ability to view claim details, including the status and payment history of claims, as well as submit different service requests including inquiries about claims, requests for duplicate policies, and forms to change beneficiaries.

Which Segments in the Long Term Care Insurance Market Offer the Most Profit Potential?
The long term care insurance market covered in this report is segmented -

1) By Type: Traditional Long-Term Care Insurance, Hybrid Long-Term Care Insurance
2) By Age Group: Under 65, 65-74, 75-84, 85 And Above
3) By Risk Covered: Medical And Nursing Care, Home Health Care, Assisted Living And Personal Care, Skilled Nursing And Rehabilitation Care
4) By Premium Payment Structure: Single Premium, Level Premium, Graded Premium, Return Of Premium
5) By Distribution Channel: Direct Sales, Insurance Brokers Or Agents, Online Sales, Others Distribution Channel

Subsegments:
1) By Traditional Long-Term Care Insurance: Standalone Reimbursement Policies, Standalone Indemnity Policies, Group Long-Term Care Insurance, Employer-Sponsored Long-Term Care Plans
2) By Hybrid Long-Term Care Insurance: Life Insurance With Long-Term Care Rider, Annuity-Based Long-Term Care Insurance, Return Of Premium Long-Term Care Plans, Single Premium Combination Policies

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=27101&type=smp

Which Firms Dominate the Long Term Care Insurance Market by Market Share and Revenue in 2025?
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.

Which Regions Offer the Highest Growth Potential in the Long Term Care Insurance Market?
North America was the largest region in the long term care insurance market in 2024. 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, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=27101

This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Speak With Our Expert:
Saumya Sahay
Americas +1 310-496-7795,
Asia +44 7882 955267 & +91 8897263534,
Europe +44 7882 955267
Email:saumyas@tbrc.info
The Business Research Company -www.thebusinessresearchcompany.com
Follow Us On:
LinkedIn:https://in.linkedin.com/company/the-business-research-company

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.