AALTCI analyzed
data from 37,000 policies sold by seven issuers.
U.S. sales of
short-term care insurance (STCI) rose about 20 percent between 2014 and 2015,
according to the American Association for Long-Term Care Insurance
(AALTCI).
The average cost of
an STCI policy increased 5.3 percent, to $1,043.
AALTCI based those
figures on data from seven U.S. STCI issuers. The issuers provided information
on 37,000 STCI policies sold in 2015.
An STCI policy can
help pay the bills for up to 360 days of skilled nursing care, home health care
or other services for insureds who need help to function but are no longer
getting acute health care in a hospital.
About 90 percent of
the consumers who bought STCI policies from the issuers that participated in
the AALTCI survey were over 60, and 37 percent were ages 71 to 80.
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