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Age Wave/Harris Survey Says Consumers See LTC as Family and Emotional Issues More than Financial

Genworth has sponsored a very important survey that confirms what I've been saying for years. The long-term care issue is much broader than a financial concern and we as an industry need to treat it that way. The major takeaways for me from this survey are:

When asked their greatest fear about having a long-term illness, people are over five times more worried about being a burden on their family than dying, and that the greatest worry of becoming a caregiver is the emotional strain – even more than the financial costs.

It's so important that families talk about long-term care, and it simply isn't happening. Families should discuss the type of care you would want, the role of each family member in the situation and most importantly, how the care will be paid for. The survey says that:

92% of people haven’t discussed all three topics with their spouse;

95% of parents haven’t discussed them with their adult children; and

96% of adult children haven’t discussed them with their parents.

Click here to see the survey results.


LTC Consultants provides long-term care insurance training to agents and educates consumers with information about long term care insurance. This website contains reports and articles about caregiving, assisted living, nursing homes, aging, senior living and elder care, home health care and other long-term care related articles. Order Phyllis Shelton’s Protecting Your Family with Long-Term Care Insurance with articles about whether or not to self-insure or buy combo life insurance and annuity policies or a traditional LTC insurance plan. The book also contains ideas for people who don't qualify for LTC insurance such as Medicaid, life settlements, reverse mortgages, critical illness and also contains in-depth information about Medicare, Medicare Advantage and Medicare Supplements.


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