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Nationwide recently worked with LIMRA/LOMA to survey a group of Baby Boomers, Gen X and Millennials to see what they think about LTC Insurance.
The results can help advisors tailor planning approaches. We've selected a few interesting findings. Click the slide arrow to learn more.....
First, there continues to be a large portion of the population who thinks they own LTC Insurance, even though the actual ownership percentage is less.
This points out the importance of doing periodic LTC policy reviews instead of taking the word of someone that they own LTC Insurance
We see that the overwhelming majority of LTC purchasers bought a plan through a financial security professional or a group offering.
It's important to understand the motivation for purchase. Although financial considerations are important, buyers often purchase because they understand the impact of caregiving on their friends and family.
Another indication that being a burden is a key worry, and that they don't think family is responsible for care - even as we know families usually come through to help.