Examining long-term care insurance claims can offer valuable insights into the types of care being utilized by policyholders and the duration of their coverage. Here are some important statistics to consider:

1. Types of Care Utilized: Based on data from the American Association for Long-Term Care Insurance (AALTCI), 52.1% of new long-term care insurance claims in 2020 were for in-home care services. Additionally, 32.1% were for assisted living facilities, and 15.8% were for nursing home care.
2. Gender Disparities: AALTCI’s data also shows that women account for 64% of new long-term care insurance claims, indicating a higher likelihood of women requiring long-term care services.
3. Duration of Claims: The AALTCI reports that the average duration of a long-term care insurance claim is 2.9 years. The average duration for women’s claims is 3.1 years, while men’s claims average 2.6 years.
4. Age at the Time of Claim: According to the AALTCI, the average age at which a policyholder files a long-term care insurance claim is 81.

These statistics underscore the importance of long-term care insurance in providing essential financial support and access to a variety of care options for policyholders as they age. Understanding the trends in long-term care insurance claims can help individuals make more informed decisions when selecting an appropriate policy that meets their unique needs.