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Delving into Long-Term Care Insurance Claims: Understanding the Trends and Numbers
Long-term care insurance claims show what kind of care policyholders actually use and how long they use it. Here are some figures worth knowing:
- Types of care used: According to 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. Another 32.1% were for assisted living facilities, and 15.8% were for nursing home care.
- Gender differences: AALTCI data also shows that women account for 64% of new long-term care insurance claims, a sign that women are more likely to need long-term care services.
- How long claims last: The AALTCI reports that the average long-term care insurance claim lasts 2.9 years. Women’s claims average 3.1 years, while men’s average 2.6 years.
- Age at claim: According to the AALTCI, the average policyholder files a long-term care insurance claim at age 81.
Federal data points the same way. The government’s long-term care planning guide notes that women need care longer than men on average, and that more people receive long-term care at home than in a facility.
These numbers show how long-term care insurance pays for real care, in a range of settings, as policyholders age. Knowing how claims actually play out helps you choose a policy that fits your needs.
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