<?xml version="1.0" encoding="UTF-8"?>
<rss version="2.0"

	xmlns:content="http://purl.org/rss/1.0/modules/content/"

	xmlns:dc="http://purl.org/dc/elements/1.1/"

	xmlns:atom="http://www.w3.org/2005/Atom"

	xmlns:sy="http://purl.org/rss/1.0/modules/syndication/"

	
	>

<channel>

	<title>New answer on: What Percent Of The Population Has Long Term Care Insurance?</title>

	<atom:link href="https://www.insurancelibrary.com/long-term-care-insurance/what-percent-of-the-population-has-long-term-care-insurance/feed" rel="self" type="application/rss+xml" />

	<link>https://www.insurancelibrary.com/long-term-care-insurance/what-percent-of-the-population-has-long-term-care-insurance</link>

	<description></description>

	<lastBuildDate>Thu, 08 Feb 2024 00:23:46 -0600</lastBuildDate>

	<sy:updatePeriod>hourly</sy:updatePeriod>

	<sy:updateFrequency>1</sy:updateFrequency>

	<generator>https://wordpress.org/?v=6.9.4</generator>


	<item>

		<title>By: William Bridgers</title>

		<link>https://www.insurancelibrary.com/long-term-care-insurance/what-percent-of-the-population-has-long-term-care-insurance</link>

		<dc:creator>William Bridgers</dc:creator>

		<pubDate>Sat, 20 Jul 2013 16:51:28 +0000</pubDate>

		<guid isPermaLink="false">https://www.insurancelibrary.com/long-term-care-insurance/what-percent-of-the-population-has-long-term-care-insurance</guid>


		<description><![CDATA[Short answer:&#160; About 8%Long answer:&#160; It&#039;s hard to say exactly how many people own some type of policy that covers paying the costs of long term care - should one qualify for it - because there are many types of insurance policies that are not just &quot;stand-alone&quot; long-term care policies, but plans of insurance that include being able to use a percentage of other plan benefits for paying long-term care costs:1.&#160; Stand-alone long-term care insurance covers only long-term care costs.&#160; It has no cash value.&#160;&#160; When a policy owner dies, coverage either lapses or stops paying benefits.&#160; It is not transferable.&#160; It cannot be bought or sold on a secondary market.&#160; This type of long-term care insurance is sometimes referred to as &quot;traditional&quot; long-term care insurance, as well.&#160; It is the type of coverage that is most often associated with the &quot;percentage of Americans that own their own long-term care insurance&quot;.2.&#160; Hybrid long-term care contracts consist of&#160;having long-term coverage&#160;and a life insurance policy that guarantees to at least return the full premium paid into the policy to the insured&#039;s designated beneficiary.&#160; Usually, these are single-premium contracts, but some have options to also pay over a specified period of time, such as 5- or 10-years.3. Linked life + long-term care policies are basically a traditional permanent life insurance contract (Whole Life or Universal Life, including the Variable or Indexed type).&#160; If a person qualifies for long-term care and they have the long-term care rider on their life policy, they may apply to the insurance company to advance or accelerate the face value of the policy (death benefit)&#160;to pay for the costs of care.&#160; There are various limitations on how much can be advanced at a time.&#160; If the face value of the life contract is completely advanced for long-term care, there is usually a residual death benefit of $5,000-$10,000.4. The latest addition to life insurance product lines are policies offering &quot;living benefits&quot;, one of which is very similar to the linked-life policy. In fact, the only difference is that a medical professional has to state in writing that the insured is not likely to recover from the condition that qualifies for long-term care benefits. (True long-term care insurance does not require that.) This type of living benefit is most often referred to as &quot;chronic care&quot; or &quot;extended care&quot;. Annuities may also have special considerations for paying out portions of the account value for long-term care costs.The point is, people who own life insurance or annuity contracts with long-term care accommodations are not typically&#160;included in with the 8% that own traditional long-term care. So, the real percentage of those that have made some type of insurance purchase to offset long-term care costs is greater than 8%.&#160; I doubt, however, that the total percentage of Americans that own any of the above-described types of policies would exceed 20% at this time.]]></description>

		

	</item>


</channel>

</rss>

