An analysis of 5,439 long-term care insurance policy holders found that 80 is the mean age at which a claim is filed, according to a report published Friday by the American Association for Long-Term Care Insurance.
More than half of the claims reported in the study (59%) came from women, and 41% of all claimants were not married at the time.
“That’s important, because many people are married when they start planning but should understand they may not have a spouse to provide care at older ages,” AALTCI Director Jesse Slome said.
The mean amount paid per claimant to date was $142,043, but the largest claim was $1.9 million, he said. “Those very large claims are definitely a risk, but our analysis of years of long-term care insurance statistics validate my position that some amount of protection is always better than having none,” Slome said.
