Affluent clients may be more receptive to long term care insurance when the economy is slumping, an expert says.
Claude Thau, president of Thau Inc., Overland Park, Kan., estimates sales for the LTC insurance industry as a whole are down 10% from what they might have been, had there been no economic downturn.
Many middle-income and moderately affluent people are putting off purchases they don't think are urgent, including LTC insurance, Thau says.
Wealthy individuals, on the other hand, might be more interested in LTC insurance now than they were before the slump, Thau says.
