12 Best Long-Term Care Insurance Plans Compared for 2026

11. Financial Stability and Company Ratings

The financial stability of long-term care insurance providers represents a paramount consideration for consumers purchasing coverage that may not be needed for decades but must remain reliable when claims arise. The long-term nature of these commitments requires insurers to maintain substantial reserves, conservative investment strategies, and robust capital structures capable of withstanding economic volatility and adverse claims experience over extended periods. Independent rating agencies including A.M. Best, Standard & Poor's, Moody's, and Fitch provide comprehensive evaluations of insurer financial strength, claims-paying ability, and overall business stability. Among our top 12 providers, ratings range from A- to A++ from A.M. Best, with most maintaining ratings of A or higher, indicating superior financial security and strong ability to meet ongoing insurance obligations. The evaluation criteria include capital adequacy, asset quality, earnings performance, liquidity position, business profile, and enterprise risk management capabilities. Northwestern Mutual, MassMutual, and Guardian Life consistently maintain the highest ratings due to their mutual ownership structures, conservative investment approaches, and strong capital positions built over decades of disciplined financial management. The long-term care insurance industry has faced significant challenges including higher-than-expected claims costs, lower investment returns, and increased longevity, leading some insurers to exit the market or significantly raise premiums on existing policies. However, the remaining providers have generally strengthened their financial positions, improved their underwriting practices, and enhanced their reserve adequacy to ensure long-term viability. Consumers should prioritize insurers with strong financial ratings and demonstrated commitment to the long-term care insurance market, as policy benefits may need to be paid for decades into the future when financial conditions and market dynamics may be substantially different from today's environment.