Long Term Care Statistics

Will You Need Long Term Care?
Should You Buy Long Term Care Insurance?

To answer these questions, let's start with a few key facts:

Fact: 75% of people 65 and older will eventually need Long Term Care.

Fact: About 80 million Americans will turn 50 over the next eighteen years.  That is one person every eight seconds.

Fact: By 2020, due to the rapid retirement of baby-boomers, approximately one in three workers will be faced with providing some form of Long Term Care for their boomer parents.

Indeed, the statistics are clear.  The chances of needing Long Term Care are high.  And so are the costs. 

As you shop for Long Term Care Insurance, keep in mind that while you are protecting your assets, you need to take caution not to over insure yourself.  At LTC Tree, we help you focus on adequate Long Term Care coverage while avoiding unnecessary bells and whistles.  Such an approach will save you money on premiums for years to come.

More Long Term Care Insurance Stats

1. The national average cost of care for just one year in a nursing home is approximately $80,850.  In major cities like Boston and New York City, however, one year of Long Term Care can be as high as $100,000.

2. About 75 percent of all single people and 50 percent of all couples spend their entire savings within one year of entering a nursing home.
3. 92% of all Long Term Care Insurance claims are for about three years.  4.5% will need Long Term Care for more than six years.
4. For every one person receiving Long Term Care in a nursing home, there are four people receiving home health care. 
5. The annual cost of lost productivity to companies from Long Term Care responsibilities for their employees is $25 billion a year, or about $4000 per employee.

At LTC Tree, we give you the Long Term Care statistics you may not find elsewhere online or from other LTC insurance agents.  Our goal is to make shopping for Long Term Care Insurance both hassle-free and as pleasant as possible.  Check out our quote request below to get your own personal side-by-side quotes for the top blue-chip companies in the business.