Finding Out Who Needs to Purchase LTCI

Who Should Buy Long Term Care Insurance? Although those who belong to the age group of 65 years and above are advised to receive some form of long term care in their lives, a policy can actually still be drafted for those even younger. Here are some insights on who should purchase an LTCI:

The Elderly

As stated by the U.S. Department of Health and Human Services, 70% of people in the ages of 65 and above are expected to receive LTC. This is because of aging-related disease and mental or chronic conditions that may affect a person’s activities of daily living (ADLs).

Those Below the Age of 65

41% of LTC recipients are below the age of 64. This is primarily because of work-related accidents and chronic conditions that may affect a person’s ADLs. In fact, more people are purchasing LTCI mainly because of accidents.

Women

Mainly because of longer life expectancy, females are more likely to purchase a policy than males.