Making the case for LTCI with statistics

You’re not alone. According to a major carrier, 90 percent of their sales come from those who sell only one to five policies annually. To better position yourself as being knowledgeable about LTCI, here’s a list of facts to use.

• Long-term care costs are projected to triple in 20 years.
• Baby boomers are the largest group of caregivers—yet they’re also balancing their own child care, retirement and health/aging issues.
• Being a caregiver is tough. Average length of caregiving is 4.3 years. Average age of care recipients is 75 years old. Nearly six in 10 caregivers are currently employed. (Caregiving in the U.S., National Alliance for Caregiving and AARP, April, 2004)
• The typical caregiver is a 46 year-old woman who spends 18 hours a week tending to her caregiving responsibilities. (AARP/The National Alliance for Caregiving)
• The top 10 U.S. long-term care insurers paid about $11 million in daily benefits in 2010. That amount is 53 percent higher than the daily amount paid by the same carriers in 2007. (AALTCI)
• Alzheimer’s disease on average can last from five to 20 years. The average is around eight to 12 years.
• Approximately 70 percent of Alzheimer’s disease patients receive care at home.
• The lifetime risk of Alzheimer’s disease among those who’ve reached the age of 65 is approximately one in five for women and one in 10 among men. (Alzheimer’s Association)

“Baby boomers are the largest group of caregivers.”