What is typically a key factor when determining insurance premiums for long-term care policies?

The age of the insured is a key factor when determining insurance premiums for long-term care policies because it directly influences the risk assessment for the insurer. Generally, as individuals age, the likelihood of requiring long-term care increases due to the natural aging process and the associated health conditions that tend to develop over time. Therefore, younger individuals typically face lower premiums since they are considered at a lower risk for needing long-term care services. Insurers evaluate age as it helps predict the potential time frame for which care might be needed, thus impacting the cost structure of the premiums.

While health status, location of care, and duration of coverage are also important in calculating premiums, age remains a primary determinant due to its fundamental role in assessing overall risk.