Conventional wisdom says human beings gain in knowledge and experience as they grow older, and that holds true for many of life’s challenges. But when it comes to at least one facet of aging, adults are lacking in one area of awareness: long term care insurance. A report from Mintel points to lack of LTCI awareness and an even bigger lack of LTCI coverage.
“Overall, Americans are not educated about long term care insurance policies and their benefits,” says Susan Menke, senior analyst at Mintel. “Many people either don’t want to confront the issue of aging or they view long term care insurance as too expensive and unnecessary.”