Still struggling with your LTCI message? You might be targeting the wrong spouse. Two-thirds (66 percent) of purchasers were women and the average single premium paid was just under $71,000, according to the first national study of buyers. Nearly half of individuals purchasing asset-based long-term care protection in 2008 were under age 65.

Research conducted by the American Association for Long-Term Care Insurance (AALTCI), the national trade organization, examined 2008 sales data for over 5,000 new policies.

“Asset-based long-term care insurance protection is becoming an increasingly popular way for individuals to protect against the risk,” explains Jesse Slome, AALTCI’s Executive Director. Asset-based long-term care policies offer the dual benefit of access to long-term care benefits as well as life insurance protection. “Many individuals find this coverage attractive because if they don’t use their long-term care protection, their beneficiaries still benefit from the life insurance coverage,” Slome explains.

The average single premium paid for an asset-based LTC policy in 2008 was $70,975, according to the Association study. This represented a four percent increase compared to 2007 when the average premium was $68,300. Just under half of policies (49.7 percent) had a base face amount of between $100,000 and $200,000. Some 30 percent had a face amount of life insurance protection of between $50,000 and $100,000. “Policies offer a long-term care insurance protection in multiples of the life insurance benefit,” Slome explains.

Purchasers of asset-based LTC policies were almost equally divided between pre-65 (49 percent) and 65-or-older (51 percent). Just over 10 percent (11.2 percent) of purchasers were between ages 45 and 54. Exactly two-thirds of purchasers were women.