Long term care insurance facts statistics information on long term care planning from long term care insurance industry organization

Long-Term Care Insurance Facts - Statistics

America is hooked on statistics. So, we are pleased to provide those statistic junkies some of the latest facts about long-term care insurance.

But, you are not average (see your mom was right!). Just because a statistic says the average need for care is 1,040 days, doesn't have any meaning for how long you will need care. Your long-term care plan should be tailored to your particular situation and only a knowledgeable professional can best help you do that.

If you are ready to see what protection will cost, then now is the time to start the process.  Click here to complete our simple online questionnaire and get the ball rolling or call our office with questions. We do not sell insurance but can address questions and connect you with a most knowledgeable specialist. Call (818) 597-3227 weekdays from 8 AM - 4 PM (Pacific Time).

The following industry data compiled by the American Association for Long-Term Care Insurance from leading LTC insurers.   Data may be used when properly sourced to: "American Association for Long-Term Care Insurance, 2014 LTCi Sourcebook."  Policy data is based on 2012 applicants for individual policies.

INSURANCE PROFESSIONALS: Get the complete 2014 Long Term Care Insurance Sourcebook   Click here for 2014 Long Term Care Insurance Sourcebook information and to order a copy.

  • 8.1 Million Americans are protected with long-term care insurance.
  • 322,000 new Americans obtain LTC insurance coverage in 2012.
  • $6.6 Billion in LTC insurance claims paid (2012).
  • Over 264,000 individuals received LTC insurance benefits (2012).
  • 85,000 combination (life plus long term care insurance policies) purchased (2012).
2013 Long Term Care Insurance Price Index
Good coverage for age 55 couple - $162,000 each$1,816 per year for couple
Better coverage for age 55 couple - $162,000 each with GPO$1,942 per year for couple
Best coverage for age 55 couple - $162,000 each with 3% infl option $3,725 per year for couple
For 'Good-Better-Best' Policy Cost IllustrationCall AALTCI at (818) 597-3227
Ages When People Apply For Long-Term Care Insurance (2012)
Under350.8%
35-443.2%
45-5424.7%
55-6454.0%
65-74See 2014 Sourcebook
75 or OlderSee 2014 Sourcebook
Daily Benefit Amount - New Individual Policies (2012)
Less than $9912.4%
$100 - $14934.0%
$150 - $19935.2%
$200 - $249See 2014 Sourcebook
$200+See 2014 Sourcebook
Elimination Period - New Individual Policies (2012)
Less than 30 Days2.7%
31 - 89 Days1.5%
90 - 100 Days92.3%
100+ Days3.5%
Benefit Period - New Individual Policies (2012)
Less than 3 Years10.5%
3 Years31.2%
4 Years27.0%
5 YearsSee 2014 Sourcebook
6-10 YearsSee 2014 Sourcebook
LifetimeSee 2014 Sourcebook
Life Insurance Policies With Long Term Care Benefits (2012)
Single premium face amount: $50,000 - $75,00011.5%
Single premium face amount: $75,001 - $100,00012.5%
Single premium face amount: $100,001 - $150,00026.5%
Single premium face amount: $150,001 - $175,00011.0%
Age of Claimant For New Claims Opened In 2012
Under Age 500.3%
Age 50 - 591.9%
Age 60 - 698.7%
Age 70 - 7925.4%
Age 80+63.7%
Newly Opened Long Term Care Insurance Claims That Paid For
Home Care51.0%
Assisted Living18.5%
Nursing Home30.5%

Long Term Care Insurance Claims - Data From Genworth Study (2014)
Youngest Claimant27 years old
Oldest Claimant103 years old
Most expensive claim (still ongoing)$1.3 million
Percentage of claims lasting more than 5 years15%
Average length of claim if more than 1 year3.9 years
Percentage of cliams lasting more than 1 year50%
Claim started with home care71%
Claim started with assisted living facility13%
Claim started with nursing home care16%

The following industry data compiled by the American Association for Long-Term Care Insurance from leading LTC insurers.   Data may be used when properly sourced to: "American Association for Long-Term Care Insurance, 2012 LTCi Sourcebook."  Policy data is based on 2011 applicants for individual policies.

Get the complete 40-page 2012 Long Term Care Insurance Sourcebook   Click here for 2012 Long Term Care Insurance Sourcebook information and to order a copy.

  • 8.1 Million Americans are protected with long-term care insurance.
  • 337,000 new Americans obtain LTC insurance coverage in 2011.
  • $6.6 Billion in LTC insurance claims paid (2011).
  • Over 200,000 individuals received LTC insurance benefits (2011).
  • $3 Million claim benefit for a single individual surpassed.
Ages When People Apply For Long-Term Care Insurance (2011)
Under351%
35-443.0%
45-5422.0%
55-6456.5%
65-74See 2012 Sourcebook
75orOlderSee 2012 Sourcebook
Daily Benefit Amount - New Individual Policies (2011)
Less than $997.0%
$100 - $14936.0%
$150 - $19934.5%
$200 - $249See 2012 Sourcebook
$200+See 2012 Sourcebook
Elimination Period - New Individual Policies (2011)
Less than 30 Days0.9%
31 - 89 Days3.1%
90 - 100 Days92.0%
100+ Days4.0%
Benefit Period - New Individual Policies (2011)
Less than 3 Years11.5%
3 Years33.8%
4 Years25.5%
5 YearsSee 2012 Sourcebook
6-10 YearsSee 2012 Sourcebook
LifetimeSee 2012 Sourcebook
Age of Claimant For New Claims Opened In 2011
Under Age 500.3%
Age 50 - 591.7%
Age 60 - 698.4%
Age 70 - 7924.1%
Age 80+65.5%
Newly Opened Long Term Care Insurance Claims That Paid For
Home Care56.0%
Assisted Living19.0%
Nursing Home31.0%

Valuable Long Term Care Insurance Information For Consumers

Read free consumer guides previously published in Kiplinger's Personal Finance magazine.
Free Long Term Care Insurance Costs Information click the link to read the guides.

Nation's largest long term care insurance information online resource
Best Long Term Care Insurance Costs click the link to access the Center now.

Ratings for long term care insurance companies
Ratings Long Term Care Insurance Companies click the link to access names and info on leading LTC insurance companies.

Tax deductions for long term care insurance companies
Tax Deduction for Long Term Care Insurance click the link to rules for deducting long term care insurance premiums.