Who Buys Long-Term Care Insurance?
by LifePlans, Inc.
January 6, 2017
This study is designed to understand changes in the long-term care (LTC) insurance marketplace from the point of view of consumers, to identify where there has been relative stability and to provide an empirical basis for projecting where the industry will move in the years ahead. We focus on purchase trends over the past 25 years and the reasons why individuals choose to buy, or not buy, LTC insurance policies. These choices reflect attitudes about insurance, the role of government, the availability of complementary and substitute service and financing options, knowledge about LTC, views about family responsibility, and more. In addition, the current survey poses a series of questions about possible public-private partnership approaches to financing LTC.