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Follow on Google News | Long-Term Care Insurance Claims Examined In New ReportA new study of long term care insurance claims has been published by the American Association for Long-Term Care Insurance.
“Last year the nation’s long term care insurance companies paid $6.6 billion in claim benefits to over 200,000 individuals,” The Association reports that women accounted for nearly two-thirds (65%) of new claims opened during 2011. About one in four (24.1%) of new claims commence between ages 70 and 79 while 65.5 percent start after the policyholder reached age 80. “One in 10 claims start when policyholders are in their 50s or 60s,” Slome acknowledged, “often the result of an accident or illness.” "The widespread question asked by individuals considering long-term care insurance is will I ever use it," Slome admits. “The best we can do is gather information on how people use their benefits.” According to Association, Alzheimer's disease was the leading cause for claims in a nursing home or assisted living community while cancer was the top cause for claims that begin at home. Half of all new individual long term care insurance claims pay for home care services the Association’ The Association study revealed that the largest claim still being paid at the end of 2011 had reached $1.7 million. “There are a number of claims still being paid that have exceeded $1-million,” The complete findings of the Association’ End
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