With the aging population rapid growth, the amount of disable elders increases continually. The constructing of long term care (LTC) financing system in China becomes an urgent problem. In this study, we firstly explore the demand for LTC, calculating the quantity and total expenditures with the information of population and economic development. Furthermore, we simulate the social insurance program for LTC in China, Finally, we summarize the private LTC insurance markets in some countries and regions, which could provide suggestions on the strategic development for Chinese insurers.