347 N. Pottstown Pike, Suite 200 | Exton, PA 19341

LTC Statistics and Trends

Real Claims Stories – Click on Images for more on their story

Who is most likely to need care:

  • Average Claimant age 78 (Industry is age 79)
  • Women 69% of Claims
  • Men 31% of Claims

Most common reasons why people need care:

  • Dementia
  • Heart Disease
  • Arthritis

General Industry Claims Information:

  • Care at Home Care 74% of the time
  • Care at Assisted Living 13% of the time
  • Care at Nursing Home 13% of the time
  • Youngest Claim age 27
  • Longest Claim 22.5 years
  • Largest Claim $2.1M
  • 51% of Claims dollars go to Cognitive issues
  • 18% of Claims 5 years or longer
  • 2010–81% of claimants were over age 65
  • 2018–57% of claimants were over age 65

Top 5 Reasons people get declined for purchasing LTC Insurance:

  • Cognitive
  • Arthritis
  • Build
  • Degenerative Disc Disease
  • Chronic Pain

General Industry Caregiver Statistics:

  • Caregivers split 50% male-50% female
  • 46% negatively impacted their health
  • 60% had to cut back on luxury expenses
  • 41% had depression
  • 40% felt it negatively impacted their relationship with spouse
  • 70% of caregivers did it out of necessity
  • 61% of families help pay for cost of professional home care
  • 63% help pay for care with money from their retirement fund
  • 48% reduce quality of life
  • 42% stopped contributing to their savings
  • 75% missed time from work
  • 46% worked fewer hours
  • 35% had repeated absence from work
  • 23% repeatedly late for work

Information provided by Mutual of Omaha Claims data 2021.

Mutual of Omaha has paid $1.1B claims since 1987 and pays $10M in claims EACH MONTH.