TITLE

Long-Term Care Insurance at a Crossroads?

PUB. DATE
November 1999
SOURCE
Journal of Financial Planning;Nov99, Vol. 12 Issue 9, p19
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article provides information about the challenges encountered by long-term care insurance system in the U.S. Record shows that market penetration of the products for 65 years old and older declined to 5 to 7 percent. Conning & Co. conducted a study about this poor performance and they identified several reasons for this outcome. Most consumers think they're already covered for long-term care through their health insurance, Social Security, Medicaid or Medicare. According to the study long-term care insurance is at a crossroads. There already exists a large and growing target market, but market penetration needs to expand to 20 to 25 percent by 2010 and 30 to 40 percent by 2025.
ACCESSION #
2501987

 

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