This data is accurate as of March 1, 2008 and is reported by Genworth Financial.

Here we have collected some statistics from Genworth Financial (formerly GE Capital) on long term care claims.

Why Genworth? We chose to use the Genworth statistics because they represent the largest single provider of long term care insurance in the industry. In fact, Genworth is larger than the next two largest providers combined. Having a long and rich history of analyzing and paying claims helps make Genworth statistics the most accurate.

Genworth Long Term Care Claims Facts:

Noteworthy facts are highlighted.

• 75% of claimants use Home Health Care Benefits – 45% choose informal home health care providers (not agency)
• 12% of claimants use Assisted Care Facilities
• 13% of claimants use a Nursing Home
• 71% of benefit dollars go to women
• $965 thousand is the largest single claim to date
• 15 years is the longest claim to date
• 46% of benefit dollars have gone to policyholders with dementia
• 30% of claimants recovered from their first claim, 33% have claimed again

Genworth Claims Paying History:

• Less than 5% of claims have been declined
• Genworth has paid $3.6 billion in claims... and has approximately $11 billion in reserves.
• Current projections estimate over $800 million in benefits will be paid in 2007 to approximately 45,000 policyholders
• Over 90,000 policyholders have received benefits to date