Long-Term Care Buyer's Prefer Limited-Duration Policies...

• 57.1% — Percentage of LTCI buyers who selected policies with a benefit period of 4 years or less.
  
  
• 80.7% — Percentage of LTCI buyers who were under the age of 65.
  
  
• 56.0% — Percentage of LTCI buyers who were between the ages of 55-64.
  
  
  "Limited duration policies continue to become the preferred choice of many consumers who benefit from their lower cost and are willing to assume some of the risk for a catastrophic long-term care event," states Jesse Slome, AALTCI's executive director.
  
  "Given the economic uncertainty of the past few years, it is understandable that consumers favor ways to reduce the cost of coverage that, while important, is still a discretionary purchase," Slome notes.
  
  "In addition, newer product design features such as the "shared care" option allow couples to purchase more affordable limited-duration policies and still be protected if one spouse requires care for longer than provided by their own policy."
  
  According to the AALTCI, more than 75% of individual long-term care insurance policies are purchased by couples.