Twenty-five states saw double-digit percentage increases in the number of residents with long-term care insurance in the last year, according to the American Association for Long-Term Care Insurance’s 2011 LTC Sourcebook.
California, New York, Texas, Florida and Illinois had the largest numbers of residents owning long-term care insurance. Less-populated states recorded the greatest percentage year-to-year growth, with the number of insured individuals in Alaska growing by nearly 130%. Wyoming saw 62% growth, and Vermont had a 48% increase.
Only two states — Pennsylvania and Missouri — saw year-to-year declines in the number of residents with coverage.
“Sales of long-term care insurance are increasing as more consumers recognize the importance and affordability of this protection,” says Jesse Slome, the association’s executive director. “Many insurance agents are having their best years as prospects are seeking them out, something that has never occurred before.”