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AALTCI Reports Long-Term Care Insurance Claims Probability For Men
"Living a long life comes with the increased risk of needing long-term care," says Jesse Slome, director of the American Association for Long-Term Care Insurance. "Women face a higher risk but the risk for men is something few men want to acknowledge?"
Slome followed up previously shared risk information with insurance professionals. "We shared data specific to women because it's been proven that they face a greater risk of needing long-term care," Slome acknowledged. "Because we were questioned about the risk men faced, we sought the data."
According to Slome, a man age 65 faces a 38.7 percent probability of needing long-term care when he reaches the ages 85-to-89. The risk for a woman is 43.9 percent according to the previously published long-term care insurance statistics reported by AALTCI.
"The vast majority of long-term care insurance claims are still paid to women," Slome adds. "However, this data proves that men who anticipate some risk of living a long life need to at least consider the benefits of owning a traditional long-term care insurance policy."
The American Association for Long-Term Care Insurance (AALTCI) advocates for the importance of planning and supports insurance professionals who market both traditional and hybrid LTC solutions. The data was shared with permission by HealthView Services LLC.
To access the latest long-term care insurance statistics and data visit the organization's website at https://www.aaltci.org/