Published on 27 Dec 2023 on Insider Monkey via Yahoo Finance

15 Best Long Term Care Insurance Companies Heading into 2024

In this article, we will look into the 15 best long-term care insurance companies heading into 2024. If you want to skip our detailed analysis, you can go directly to the 5 Best Long Term Care Insurance Companies Heading into 2024.

Market Analysis of Long-Term Care Insurance

Long-term care insurance is provided to senior citizens who are unable to support themselves and are receiving long-term care services. The care can range from assistance in daily activities at home to extensive care at institutions and facilities. According to a report by SkyQuest Technology, the global long-term care insurance market was worth $18.88 billion in 2021. The market is expected to grow at a CAGR of 12.3% and reach $53.21 billion in 2030. The growth can be attributed to a rise in the aging population, an increase in long-term ailments, and a higher life expectancy.