What are Long-Term Care Planning Strategies?
Insurance Industry Insights
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125: Number of insurers offering standalone long-term care policies, 2000.
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Fewer than 15: Number of insurers offering standalone long-term care policies, 2014.
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380,000: Number of individual long-term care insurance policies sold, 1990.
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129,000: Number of individual long-term care insurance policies sold, 2014.
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72,736: Number of hybrid life/long-term care policies sold to individuals, 2009.
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305,068: Number of hybrid life/long-term care policies sold to individuals, 2013.
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4.5 million: Number of individuals with long-term care insurance coverage, 2000.
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7.25 million: Number of individuals with long-term care insurance coverage, 2014.
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$1.98 trillion: Maximum potential benefit of all long-term care policies in force today.
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$1.87 billion: Annual claims on long-term care insurance policies, 2000.
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$9.2 billion: Annual claims on long-term care insurance policies, 2017.
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$1,677: Average annual premium, long-term care policies being sold, 2000.
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$2,772: Average annual premium, long-term care policies being sold, 2015.
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99%: Percentage of new long-term care policies that cover both nursing home and in-home care.
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0.5%: Percentage of all businesses offering long-term care insurance to their employees.
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20%: Percentage of businesses with 10 or more employees offering long-term care insurance to their employees.
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13.9%: Percentage of applicants ages 50-59 denied long-term care coverage due to health issues.
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44.8%: Percentage of applicants ages 70-79 denied long-term care insurance due to health issues.