Lincoln: Boomers In Denial About LTC

Older boomers and younger members of the Silent Generation are over-confident about their ability to pay for long term care.

Researchers at the Lincoln Retirement Institute, an arm of Lincoln National Corp., Philadelphia, say 59% of boomers think others should prepare for the possibility of needing long term care by buying insurance, but only 35% expect to make LTC insurance part of their own preparations.

The researchers drew on a survey of about 1,000 U.S. residents ages 50 to 70, with household incomes of at least $75,000 or total household financial assets, excluding real estate, greater than $250,000.