Can life insurance help cover long-term care costs in Nevada?

Yes. Certain life insurance products include long-term care (LTC) riders or are structured as hybrid life/LTC policies, providing coverage for nursing home care, assisted living, and home health services while also providing a death benefit.

Accelerated benefit riders allow policyholders to access a portion of the death benefit while living if they meet the definition of chronic illness or long-term care need. Most policies define this as the inability to perform 2 of 6 Activities of Daily Living (ADLs). Benefits paid for qualified LTC expenses are typically income-tax-free under federal law.

Nevada nursing home costs average $90,000–$120,000 per year, and assisted living averages $50,000–$75,000 annually—significant expenses that can quickly exhaust retirement savings. Hybrid life/LTC policies address this risk while ensuring the premium is "not wasted" if care isn't needed—the death benefit remains.

Standalone long-term care insurance premiums have increased dramatically in recent years. Hybrid policies offer premium certainty that standalone LTC insurance cannot guarantee. The tradeoff is typically lower death benefit per premium dollar.

Agents in our network can compare hybrid and traditional permanent policies with LTC riders from A-rated (A.M. Best) carriers to find appropriate options for your situation.