I’m very keen on LTC and retirement survey results.
For one thing, they help understand the mysterious phenomenon of denial. Studying and understanding denial makes rejection a far less personal experience having to do with anything you said or didn’t say. Understanding denial proves “it’s not you”. This can result in less down time and more productivity.
Second, explaining survey results to a prospect may help them recognize their own denial, which can help an LTCI sale progress.
One interesting study was released in late September by the Robert Wood Johnson Foundation and the Harvard School of Public Health. NPR ran several stories on this survey the week it was released. (By the way, this link takes you to NPR’s story featuring Sally Leimbach, my good friend and sometime LTCI conference roommate. The story focused primarily on LTC planning and LTCI in particular, prime time. It was a welcome breath of fresh air because I am accustomed to mainstream media coverage of LTC planning mentioning LTCI only as an “aside” rather than a vital strategy for dealing with LTC.)
The same link above provides additional NPR coverage of this new study, as well as the actual study and slides.
Here’s the study’s striking evidence of the public’s vast disconnect from reality:
Only 14% of the pre-retirees predicted that their lives will be worse in retirement, but, in reality, 25% of the current retirees said their lives are worse.
Only 13% of the pre-retirees said their health will be worse in retirement, but 39% of the current retirees said their health is worse.
Only 22% of the pre-retirees said their financial situation will be worse in retirement, but 35% of the current retirees reported that their financial situation is worse.
Only 11% of the pre-retirees expect to be less able to travel once they retire, but 34% of the current retirees said they are less able to travel.