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June 17, 2008 at 11:05 AM
U.S. long term care insurers are about 10 times more likely to turn down applicants over age 80 than they are to turn down applicants under age 50.
Researchers at the American Association for Long Term Care Insurance, Westlake Village, Calif., came up with those figures by looking at 250,000 LTC insurance applications submitted in 2007 to 10 top LTC insurance carriers.
The proportion of applicants rejected ranged from 7% for applicants under age 50 to about 70% for applicants ages 80 and older.
The proportion of applicants declined was 14% in the 50-59 age group; 23% in the 60-69 age group and 45% in the 70-79 age group.
