New study tracks usage of long term care insurance

The new guide includes helpful charts which report such things as the industry’s longest-running claims still active, the percentage of claims being paid to single and married men and women and the ages at which beneficiaries first make claims.

The study also revealed how selected insurance protection related to actual claims. “More consumers are purchasing limited-duration policies as a way to keep the cost of long term care insurance affordable,” said Slome. “In 2009, almost one-third of individual buyers purchased a three-year benefit period.” Such policies cost between 42 and 54 percent less than an unlimited-term policy.