As the economic picture remained clouded and investors remained nervous, the age of purchasers of long-term care insurance in 2009 increased for the 55-and-older group over 2008, according to an annual study by the American Association for Long-Term Care Insurance (AALTCI) to be released in April. The organization's research was based on an analysis of 155,000 individual-placed policies.
"Clearly the economy is having an impact on when individuals start their long-term care planning and what benefit levels and policy options they select," said Jesse Slome, executive director of the industry organization, in the release announcing the findings.
According to the study, 73.5% of buyers of individual policies were age 55 or older when they applied for coverage in 2009, compared to 69% in 2008.
