Systems and methods for determination of long term care benefits

A non-transitory program storage device readable by a machine, tangibly embodying a program of instructions executable by the machine to perform steps comprising:

• determining an average monthly cost of long term care for a consumer;
• determining an estimated total cost of long term care for the consumer;
• receiving data describing the consumer's preferences regarding long term care resources comprising said consumer's preference with respect to an allocation of retirement assets;
• calculating an initial benefit amount for the consumer;
• calculating a Benefit Adjustment Score, based on said consumer's preferences regarding long term care resources, wherein the Benefit Adjustment Score is determined from a plurality of questions about the consumer's attitude regarding retirement assets and long term care, and the steps of:
• assigning an answer value based on a Likert scale to one or more different answers to the plurality of questions;
• recording responses to the plurality of questions;
• calculating the Benefit Adjustment Score based on the answer values from the answers given in the response;
• and
• comparing the Benefit Adjustment Score to a pre-generated list of benefit levels;
• adjusting the initial benefit amount based on said Benefit Adjustment Score to determine a total benefit amount;
• and
• recommending a policy providing said total benefit amount to said consumer.

A computer system comprising:

• a processor that determines an average monthly cost of long term care for a consumer;
• a processor that determines an estimated total cost of long term care for the consumer;
• a processor that receives and stores in a computer readable medium data describing the consumer's preferences regarding long term care resources comprising said consumer's preference with respect to an allocation of retirement assets;
• a processor that calculates an initial benefit amount for the consumer;
• a processor that calculates a Benefit Adjustment Score, based on said consumer's preferences regarding long term care resources;
• a processor that adjusts the initial benefit amount based on said Benefit Adjustment Score to determine a total benefit amount;
• and
• a processor that recommends a long term care policy providing said total benefit amount to said consumer,
• wherein the Benefit Adjustment Score is determined from a plurality of questions about the consumer's attitude regarding retirement assets and long term care options, and the steps of:
• a processor that assigns an answer value based on a Likert scale to one or more different answers to the plurality of questions;
• a processor that receives and stores in a computer readable medium responses to the plurality of questions;
• a processor that calculates the Benefit Adjustment Score based on the answer values from the answers given in the response;
• and
• a processor that compares the Benefit Adjustment Score to a pre-generated list of benefit levels,
• wherein said processors may be the same processor or different processors.