Most Long-Term Care Insurance Claims Are for Home Care

Butler to Replace Booth as Co-CEO of Dimensional Fund Advisors

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Retirement Is Lifes Most Expensive Purchase

More than half of new long-term care insurance claims in 2016 were for people who received care in their homes, according to the American Association for Long-Term Care Insurance. That’s a 3% increase from 2012.

“Individuals continue to mistakenly think of long-term care insurance as nursing home insurance,” Jesse Slome, director of the AALTCI, said in a statement. “I sometimes refer to LTC insurance as nursing home avoidance insurance because often having this insurance protection in place allows the individual to be cared for in their own home.”

Even in these states, LTC is expensive, averaging $38,583 a year in the cheapest state, Genworth reports.

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