“OneAmerica Sees LTC Solutions Knowledge Gap,” by Allison Bell, ThinkAdvisor
“Marketers at OneAmerica say they have new evidence that ignorance continues to be a barrier to use of insurance-based long-term care planning arrangements. . . . About 25% of the participants said they believe they have some kind of insurance that will help them pay for long-term care (LTC) services. But 13% of the participants said they have never heard of long-term care insurance (LTCI), and 9% said they don’t have any insured LTC planning products because they don’t know how to get the products. About 53% of the survey participants said they have heard of the concept of long-term care insurance but believe it’s too expensive. OneAmerica says one way to reach consumers may be to offer them life insurance and annuity products that offer long-term care benefits.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Will Rogers said “It isn’t what we don’t know that gives us trouble, it’s what we know that ain’t so.” Compared to the actual risk and cost of long-term care, LTC insurance products, whether of the traditional or hybrid varieties, are affordably priced for the protection they render.