Tuesday, April 13, 2010

LTCI Stats: Older Buyers See Value In Long-Term Care Insurance (LTCI) Plans

37.2% - Percentage of LTCI buyers who were over 55 when they purchased a policy.

66.1% - Percentage of LTCI buyers who chose plans that would pay benefits for at least five years.

$149 – Most popular benefit level for new buyers, up 8% from last year.

6.4% - Percentage of new claims that were initiated by individuals age 59 or younger.

49% - Percentage of benefit dollars from new group policy claimants were for home care; 30% were for nursing home care.

64.5% - Percentage of individual LTCI buyers who purchased a 5% annual inflation growth option with their policy.

83.6% - Percentage of new buyers who chose an option that would allow them to increase benefit levels periodically in future years.

Source: AALTCI

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