Study reveals sentiment on long term care

Posted on: Tuesday, September 13, 2011

A new study released by Sun Life Financial may provide agents with some guidance about what type of products that insurance leads are interested in purchasing.

The study, obtained by the insurance news service National Underwriter, found that a considerable number of U.S consumers would prefer not having to finance long term care, but those who would like to want to have it done before they turn 65 years old.

The Wellesley, Massachusetts-based insurer arrived at its findings after conducting a survey of more than 1,000 Americans at least 50 years of age and older. When asked about long term care, approximately 50 percent said they worried about its cost. Just 16 percent stated they believed they had the assets to finance care if they needed it for a prolonged period.

The study also found that a considerable percentage of respondents did not think they will ever need long term care. Forty-six percent of 400 people they interviewed who had at least $500,000 in investable assets said they don't think they will ever need to purchase it.

This study may help agents gauge the interest level insurance leads have with long term care based on certain characteristics, such as income level and age.

Posted In: Insurance News, Health Insurance

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