Buying even a few years of long term care coverage really can make a difference.
Researchers at the American Association for Long-Term Care Insurance, Westlake Village, Calif., have published figures supporting that argument in a study based on an analysis of claims filed in connection with 1.6 million in-force LTC insurance policies.
The researchers looked both at open claims and closed claims.
Only 33% of the claims that were open at the time the study was conducted had been open for longer than 24 months, and only 16% of the open claims had lasted longer than 36 months.
Claim durations were even shorter for closed claims, AALTCI researchers report.