The American Association for Long-Term Care Insurance (AALTCI) has come out with a new long-term care (LTC) benefits product cost comparison analysis.
AALTCI looked at how much a consumer might pay to get long-term care benefits through a stand-alone long-term care insurance (LTCI) policy, versus how much the same consumer might pay to get the same amount of benefits through a life insurance policy that offers LTC benefits.
- A compendium of AALTCI’s 2020 LTCI data is available here.
- An article about an earlier AALTCI data release is available here.
AALTCI considered several different coverage purchasing scenarios.
In one scenario, for example, AALTCI assumes that the consumer is a single, 55-year-old female. She is shopping for coverage that would provide a $505,000 pool of benefits at age 90, with 3% annual coverage growth.
That woman would pay $2,750 per year for a stand-alone LTCI policy providing that amount of coverage, according to AALTCI.