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November 25, 2017 at 02:07 AM
Marketers at OneAmerica say they have new evidence that ignorance continues to be a barrier to use of insurance-based long-term care planning arrangements.
The Indianapolis-based company sponsored a survey of 2,065 U.S. adults ages 18 and older, and it released the results earlier this month, to support the Long-Term Care Awareness Month outreach campaign.
About 25% of the participants said they believe they have some kind of insurance that will help them pay for long-term care (LTC) services. But 13% of the participants said they have never heard of long-term care insurance (LTCI), and 9% said they don’t have any insured LTC planning products because they don’t know how to get the products.
(Related: AXA, OneAmerica Expand Long-Term Care Hybrid Efforts)
About 53% of the survey participants said they have heard of the concept of long-term care insurance but believe it’s too expensive.
