Only 8% of long term care insurance claimants with 3-year policies exhaust their benefits, according to the American Association For Long Term Care Insurance.

The AALTCI, Westlake Village, Calif., reached that conclusion after looking at data on 100,000 claimants.

About 30% of the individual long term care insurance policies sold in 2008 had benefit periods of 3 years, according to the AALTCI.

“While purchasers select a benefit period, that’s really a misnomer, because policies typically make available a pool of money for benefits,” says AALTCI Executive Director Jesse Slome. “As a result, 1 in 10 3-year policies actually paid benefits beyond the 36-month time period. People were still receiving benefits from their policies for 4 and even 5 years.”