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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
June 09, 2008 at 10:45 AM
The insurance industry still has its work cut out for it in educating the public about long term care insurance, a market research firm suggests.
Fewer than 60% of U.S. adults are familiar with LTC insurance, according to analysts in the Chicago-based U.S. branch of Mintel International Group Ltd., London.
Only 26% of the participants say they have LTC coverage.
About 20% said they don’t know why they haven’t bought a policy or said they “don’t know anything about” LTC insurance.
When the researchers explored other reasons consumers fail to buy LTC insurance, 42% of the participants cited cost; 17%, a belief that they will not need LTC insurance; and 15%, the belief that Medicare or Medicaid will cover LTC costs.
Mintel researchers found that 13% of the respondents said they would like to buy LTC insurance but just have not gotten around to it yet.
More than 66% of the people surveyed who actually had bought LTC insurance said they did so because they did not want to burden others with the cost of their care.
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