Long-Term Care Insurance: Who Really Needs It?

Gilmour, Robert A.
September 2004
Journal of Financial Planning;Sep2004, Vol. 17 Issue 9, p78
Academic Journal
Many financial planners routinely recommend long-term care insurance for their older clients, often citing alarming statistics to support their recommendations. However, according to the author of this article, these commonly cited statistics are based on faulty statistical analysis. In fact argues the author, a relatively small proportion of elderly Americans face lengthy confinement in nursing homes today. The most at-risk are the very elderly and the mentally deficient single men and women (mostly women). Married men and women, the main targets of long-term-care policy sales, are much less at risk than supposed. Furthermore, that proportion of the population in nursing homes could shrink in the face of changing market conditions.


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