ARTICLE SUMMARY:
LIMRA estimates just 3% of Americans over age 50 have any LTC insurance protection, leaving many people on the financial hook to cover these expenses on their own.
There has been considerable discussion about the U.S. aging population regarding retirement savings and the need to secure guaranteed retirement income. Yet Americans also face another substantial financial risk - needing and affording LTC services. According to HHS, the need for LTC services will be substantial for those ages 65 and over:
- More than half (56%) will need LTC services at some point.
- Nearly half (45%) will need paid LTC services.
- About one-third (35%) will have some out-of-pocket costs
- Fourteen percent will incur out-of-pocket costs of greater than $100,000.
Read the article HERE. Or, past the following link into your browser. https://www.limra.com/en/newsroom/industry-trends/2025/is-life-insurance-the-answer-to-the-growing-long-term-care-need-in-the-u.s/
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Dean Lambert
Executive Director
LIC
dlambert@limra.com5154146895
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