Long-term insurance is appealing to an increasingly younger cohort of clients, a survey conducted by the American Association for Long-Term Care Insurance reported.
The average long-term care purchaser’s age is 58, down from 61 in 2005 and 67 in 2000, according to the survey, which was released as a precursor to National Long-Term Care Awareness Week, Nov. 4 through 14.
Eight million Americans have long-term care insurance, and 46% of those holders are between ages 50 and 60, according to AALTCI.
Approximately 14% of purchasers are under 50 and more than 39% are over 60.
The survey, conducted in September, also reported that more than 66% of claimants receiving benefits are women and only about 33% are men.
AALTCI is a national professional trade association for insurance and financial services professionals, insurance companies and consumers.