Long-Term Care Insurance Claims Paid Data Shared By Association

"People understand why they may need long-term care insurance," states Jesse Slome, director of the American Association for Long-Term Care Insurance. "What they often ask is whether people actually benefit from owning this protection. For that reason, we strive to share the most relevant and latest data regarding long-term care insurance claims."

Slome shared new claims information with insurance professionals marketing long-term care insurance protection. “The data reveals helpful information you’ll want to share with individuals considering long-term care insurance," Slome advised.

According to Slome, the analysis reported data on 5,439 policyholders studied by the Connecticut Partnership for Long-Term Care. “Over half (59%) of the claims were women and 41 percent of all claimants were not married at the time. That’s important because many people are married when they start planning but should understand they may not have a spouse to provide care at older ages.”

Among the data shared by the long-term care insurance expert was the amounts paid to date per-claimant. “The mean was $142,043 but the largest claim was $1.9 million,” Slome shared. “Those very large claims are definitely a risk but our analysis of years of long-term care insurance statistics validate my position that some amount of protection is always better than having none.”

The American Association for Long-Term Care Insurance (AALTCI) advocates for the importance of planning and supports insurance professionals who market both traditional and hybrid LTC solutions.

To access the latest long-term care insurance claims statistics and other data visit the organization’s website at www.aaltci.org/LTCFacts-2022/. To obtain long-term care insurance costs from a long-term care insurance specialist call the organization at 818-597-3227 or visit their website www.aaltci.org.