Interesting Facts
- The odds of having an homeowner’s claim are 1 in 1200.
- The odds of having an automobile claim are 1 in 240.
- The odds of having a major medical claim are 1 in 10.
- The odds of having a Long Term Care claim are 3 in 5.
You wouldn’t think twice of not carrying insurance for the first three areas to protect yourself and your assets, so you need to seriously consider LTCi to protect this exposure as well.
$8.5 billion in claim payments to 180,000 Americans in 2008
- Percentage of Claims for
| Home Care | 42% | |
| Assisted Living | 27% | |
| Nursing Home | 31% |
- Claimant Age for New Claims Opening in 2007
| Under age 50 | 0.5% | |
| Age 50-59 | 2.0% | |
| Age 60-69 | 6.5% | |
| Age 70-79 | 31% | |
| Age 80+ | 60% |
- Top Causes of LTC Insurance Claim
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- The largest reported open claim for 2008 is over $1.2 million.
Links
Companies Represented
- Allianz Life Insurance Company
- Genworth Financial
- GREATAMERICAN LIFE INSURANCE COMPANY
- JohnHancock
- MEDAmerica
- MetLife
- Provident Life and Accident
- Prudential
- UNITED of OMAHA LIFE INSURANCE CO.