Thursday, September 6, 2012
Long term care insurance isn’t just for an aging crowd. The American Association for Long-Term Care Insurance released a study that found a 28 year old who had been receiving benefits from his long term care insurance for four years. He purchased the coverage at 21 and received his first benefit at 24.
In 2011, the long term care insurance industry paid $6.6 billion in claim benefits to over 200,000 individuals. Insurance companies noted that there a growing number of younger individuals are purchasing long term care insurance.
See American Association for Long-Term Care Insurance, Younger Long Term care Insurance Claimants Examined, Sacramento Bee, Sept. 5, 2012.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.