According to the 2015 Survey of long term care insurance, published by Broker World magazine, here are some facts and figures I found interesting:
Issue age: More than 77% of LTC insurance is purchased by people between 50-69. The average issue age is 56.3.
Benefit period: fully 35% of applicants purchase a 3 year benefit, with 44% purchasing either a 4 (14.2%), 5 (12.6%) or 6 (17.5%) year benefit.
Claims: 37% of claims are paid for nursing home care, 25% for assisted living, and 38% for home care or adult day programs.
