long term care insurance statistics Archives

Long term care insurance applications of boomers rejected

May 28, 2013May 27, 2013 G. Turner

Applicants for the coverage are experiencing a notable downtrend in their acceptance by insurers. The industry has noted a striking trend in the long term care insurance sector, in which applicants for the coverage – particularly in the baby boomer age group – have not been able to purchase the policies because they have been rejected by their insurers. These consumers are being told that LTC coverage is important to their future planning but cannot buy it. According to the data that has just been released by LTC Tree, insurers…

The gap in long term care insurance is widening as Baby Boomers age

July 8, 2012April 30, 2013

As the largest generation heads for retirement what coverage do they have? Long term care insurance is currently facing a notable gap in the coverage that it is providing, and as a growing number of Baby Boomers begin to rely on it, that gap is increasing at an alarming rate. The problem is that almost three quarters of all Americans over the age of 65 will need this service. The National Clearinghouse for Long Term Care Information’s data has shown that nearly three in every four Americans past that age…

Younger consumers are buying – and benefitting from – long term care coverage

April 28, 2012May 26, 2012 Julie Campbell

Linked long term care coverage is starting to appeal to a younger audience due to claims with large payouts. In order to maintain coverage against the high costs of long term care, a growing number of national insurers are now offering a combination product that includes life insurance with the option for LTC benefits. This information was drawn from the 2012 Buyer Study, which was performed by the national trade group, the American Association for Long-Term Care Insurance. These products that offer linked benefits (also known as combination policies) are…