More than half of individual long-term care insurance buyers were between the ages of 55 and 64 in 2008. The findings are the latest from The American Association for Long-Term Care Insurance. The organization analyzed data on 215,000 buyers of individual long-term care insurance protection and found 84 percent of individual buyers last year were younger than age 65.
“The age of buyers keeps dropping as consumers – especially baby boomers – understand the cost-saving benefits of locking in good health discounts and ways to make protection more affordable,” says Jesse Slome, the association’s executive director. Research shows that in 2000, the average age of an individual buying long-term care insurance was 67.