What are Long-Term Care Planning Strategies?

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• Tradition Long-Term Care Insurance

• Asset/Hybrid Based Long-Term Care Insurance

• Annuity Care-Long-Term Care Insurance

• Life/LTC Linked Insurance 7702b Rider

• Life/LTC Linked Insurance 101g Riders

Insurance Industry Insights

• 125: Number of insurers offering standalone long-term care policies, 2000. 

• Fewer than 15: Number of insurers offering standalone long-term care policies, 2014. 

• 380,000: Number of individual long-term care insurance policies sold, 1990.

• 129,000: Number of individual long-term care insurance policies sold, 2014. 

• 72,736: Number of hybrid life/long-term care policies sold to individuals, 2009.

• 305,068: Number of hybrid life/long-term care policies sold to individuals, 2013.

• 4.5 million: Number of individuals with long-term care insurance coverage, 2000. 

• 7.25 million: Number of individuals with long-term care insurance coverage, 2014. 

• $1.98 trillion: Maximum potential benefit of all long-term care policies in force today.

• $1.87 billion: Annual claims on long-term care insurance policies, 2000.

• $9.2 billion: Annual claims on long-term care insurance policies, 2017.

• $1,677: Average annual premium, long-term care policies being sold, 2000.

• $2,772: Average annual premium, long-term care policies being sold, 2015.

• 99%: Percentage of new long-term care policies that cover both nursing home and in-home care.

• 0.5%: Percentage of all businesses offering long-term care insurance to their employees.

• 20%: Percentage of businesses with 10 or more employees offering long-term care insurance to their employees. 

• 13.9%: Percentage of applicants ages 50-59 denied long-term care coverage due to health issues. 

• 44.8%: Percentage of applicants ages 70-79 denied long-term care insurance due to health issues.