The consumers who applied for private long-term care insurance (LTCI) and get it may be much more likely to have jobs than the rejected applicants are.
Denise Liston, a vice president at LifePlans, presented data supporting that argument in a presentation she gave at a recent session at the AALTCI Summit — an LTCI industry conference organized by the American Association for Long-Term Care Insurance.
AALTCI is selling access to session recordings and offering free access to snippets of the recordings.
LifePlans conducted an analysis of about 55,000 consumers who applied for private LTCI coverage from January 2009 through June 2010 and failed to get it.
When LifePlans compared the new LTCI buyers with the declines, it found, as it expected, that the new buyer buyers were younger than the declines, Liston said.
The median age of the new buyers was 57, compared with a median age of 64 for the declines.
The ratio of men to women was the same for the new buyers and for the declines.
The ratio of married applicants to single applicants was also the same.