NU Online News Service, Feb. 25, 2004, 6:36 p.m. EST – The youngest U.S. adults may be more interested than other U.S. adults in buying long term care insurance.[@@]
When researchers at Vertis Inc., Baltimore, a market research firm, surveyed 2,000 U.S. adults of all ages in early 2003, they found that 44% of members of “Generation Y,” or adults between the ages of 18 and 27, were interested in buying LTC insurance, compared with only 31% of all adults surveyed.
Members of Generation Y also were about 50% more likely to want hospital insurance and twice as likely to want pet insurance.
Other survey findings:
- 70% of the participants said they open insurance direct mail if their name is on the envelope.
- 51% of the participants said they open insurance direct mail that offers a special offer or discount.
- 35% of the adults with annual household incomes over $75,000 said a knowledgeable agent was the most important service provided by an insurance company.