§ Calculator · Insurance

Long-term care need

What this is

Estimated cost of nursing-home or assisted-living care, vs the assets you'd draw on.

Canadian average: $5k-12k/month for private long-term care (provincial subsidy reduces public-home cost to $2-3k/month but waitlists are long). Average stay: 2.5-3 years. Healthcare inflation: 3-4% per year.

·Ontario private LTC: $3,500-4,200/mo (semi-private). $6,000-12,000/mo for private retirement homes.
·BC private LTC: $4,000-8,000/mo.
·In-home care: $25-45/hr; 4 hrs/day = $3,000-5,400/mo.

Monthly care cost (CAD)Years of care expectedHealthcare inflation

Current liquid assets

Future cost total

$243,485

PV of need today

$229,574

Gap

$79,574

LTC insurance premiums are highly age-sensitive — get a quote in your 50s before health conditions affect rates. Many Canadians self-insure with home equity (reverse mortgage / sale).

Disclaimer

Educational, not financial advice. Output is generated by an AI assistant using simplified assumptions. Tax rates, contribution limits, and benefit amounts change annually; confirm with a CFP, CPA, or the relevant Canadian regulator (CRA, FSRA, OSC, IIROC) before acting.