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Survey: Very Young Adults Want LTC Insurance

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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.