Only 5% of Americans ages 45 to 64 and with incomes over $20,000 have long term care insurance.[@@]
Long Term Care Group Inc., Long Beach, Calif., has published that statistic in a new report on penetration rates for private U.S. LTC insurance.
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LTC Insurance Has Low Market Penetration: Study
By
Staff Writer
October 17, 2005 at 08:00 PM
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In each state, the percentage of older adults who lack private LTC insurance ranges from 78% to 97%, the firm reports.
The low LTC penetration figures show that there's still a huge and largely untapped market for LTC insurance, says Peter Goldstein, executive vice president of the Long Term Care Group.
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