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Tuesday, October 14, 2014

Long Term Care Insurance - Facts and Statistics

The infographic above shows vital information about long term care insurance that one should know before he or she jump into buying a policy. Getting a LTC insurance can be a bit overwhelming or complex process, it is still advisable to seek a professional ltc agent for advise.

Some of the Highlights:

  • 70% of people over 65 will require some care at some point in their lives.
  • The projected average cost for 2 years of long-term care 30 years from now is $500,000. 
  • Today, the average per-hour cost of home care in the U.S. is $30 with per-day cost reaching $250. 
  • Mid-50s is the best age to buy LTC insurance. The average purchase age of group insureds is 47yrs. 
  • The highest cause of claims after age 65 is Alzheimer’s. 
  • 20% of people will need care longer than 5 years.