In America long term care insurance now being taken up by baby boomers
Younger Americans are taking out aged care insurance. Leading provider LTC Tree, has analysed 53,000 policies taken out since 1999 (14 years ago) and found that in 1999 the average age of a buyer of insurance to cover late age care costs was 67.3...
Younger Americans are taking out aged care insurance. Leading provider LTC Tree, has analysed 53,000 policies taken out since 1999 (14 years ago) and found that in 1999 the average age of a buyer of insurance to cover late age care costs was 67.3 years. Today it is 53.1 years.
Part of the reason is that stricter underwriting guidelines mean that younger, healthier applicants are more likely to be approved than people in their 60s and 70s, but also younger people are seeing their parents in care and now can learn about and access insurance more easily via the internet. In 1999 the insurance was sold by direct insurance brokers face to face.
