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Many LTC Insurance Buyers Pay Under $1,500 A Year: Study

By Staff Writer

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About 35% of individuals who recently purchased long term care insurance were paying less than $1,499 per year for the coverage, according to the American Association for Long Term Care Insurance, Westlake Village, Calif.

Among buyers under age 61, 43.5% paid less than $1,499 annually, while about 74% of buyers between ages 61 and 75 paid $1,500 or more, according to a new report from AALTCI.

Among those under age 61, 28% paid less than $999 per year, the report states.

The association examined data on 93,500 new LTC insurance buyers.