Report Looks at What People Are Paying for Long-Term Care Insurance
More than a third of individuals who recently purchased long-term care insurance are paying less than $1,499 . . .
Read moreLong-term insurance is becoming a mainstream tool for long-term financial planning, according to a report by The American Council of Life Insurers (ACLI).
The report, "Passing the Trust to Private Long-Term Care Insurance," shows that long-term care insurance is growing in popularity. Consumers are buying long-term care coverage at younger ages; workers, including blue-collar workers in many industries, are enrolling in employer-sponsored long-term care plans; and families with strong cultures of caring for elders are buying long-term care insurance in growing numbers.
In addition, the report found that:
"Long-term care insurance is coming of age--and at the right time. More than 70 million baby boomers are approaching retirement. In addition, the U.S. Census projects 80 to 90 million Americans will be 65 or older by the year 2030," says ACLI Senior Director Lynn Boyd.
To read the ACLI news release and to download the 57-page report in PDF format, click here.
To find a long-term care insurance agent certified by the Corporation for Long-Term Care Certification, go to: www.ltc-cltc.com
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