Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Life Insurance > Term Insurance

Short-term care insurance sales rise 20%

By Allison Bell

X
Your article was successfully shared with the contacts you provided.

U.S. sales of short-term care insurance (STCI) rose about 20 percent between 2014 and 2015, according to the American Association for Long-Term Care Insurance (AALTCI).

The average cost of an STCI policy increased 5.3 percent, to $1,043.

AALTCI based those figures on data from seven U.S. STCI issuers. The issuers provided information on 37,000 STCI policies sold in 2015.

See also: New short-term care group meets

An STCI policy can help pay the bills for up to 360 days of skilled nursing care, home health care or other services for insureds who need help to function but are no longer getting acute health care in a hospital.

About 90 percent of the consumers who bought STCI policies from the issuers that participated in the AALTCI survey were over 60, and 37 percent were ages 71 to 80.

See also: Short-term care products ping groups’ radar

          

Are you following us on Facebook?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.