Are Shorter-Term Long-Term Care Policies Too Short?…

July 2006
Journal of Financial Planning;Jul2006, Vol. 19 Issue 7, p10
Academic Journal
The article reports that clients do not want to purchase long-term care (LTC) policies because of their cost and focuses on a report by the American Association for Long-Term Care Insurance. Shorter-term policies provide fewer years of benefits and lower the premium, but might not give clients' enough protection. The study of LTC policies indicates that three years' coverage is enough. Statistics include the percentage of open and closed claims that lasted longer than 24 and 36 months. Less than ten percent of policyholders exhausted their three-year benefit policies.


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