Claims History on Benefit Period

These statistics speak to our topic yesterday on the benefit period. For a major carrier in the business, this is their claims history on policies for a 30 year period of time.

The youngest claimant was 37 and the oldest was 105.

The average and longest length of claim for the types of care was:

• Assisted Living Facility - Average = 1079 days or 2.9 years; Longest = 10 yr and 5 mo
• Home Health Care - Average = 523 days or 1.43 years; Longest = 10 yr and 7 mo
• Nursing Home - Average = 721 days or 1.97 years; Longest = 14 yr and 5 mo
• All Benefits - Average = 690 days or 1.89 years; Longest = 14 yr and 5 mo

Percentage of Total Claims by Benefit Type

• Assisted Living Facility = 10.6 %
• Home Health Care = 77.9%
• Nursing Home = 11.2%
• Other = .3%

The top 5 Claim Types by Benefit Dollars Paid:

1. Dementia (Alzheimer's, Senility) = 36.6%
2. Stroke = 14.6%
3. Parkinson's Disease = 3.9%
4. Hip Fracture = 3.7%
5. Fractures - Other = 3%