2. Goals & Methodology
Goals
– Uncover new insights for marketing campaigns, press releases, practice
management and thought leadership initiatives
Methodology
– A national study with adults ages 25 years and older, with incomes of $50,000
and above, with all other demographics being a representative sample of the
United States. There were a total of 1073 completed interviews holding a 95%
confidence with 3% margin of error.
– Survey was fielded from August 17th – 21st, 2011
– Red Boxes in charts indicate significant differences
– Light Blue Boxes with the word “CAUTION” indicate a small group of
respondents (less than 45), and should be considered directional information
3. Do you have long term care insurance?
90%
Sample Size = 1073
80% 78%
70%
60%
50%
40%
30%
20%
10% 8% 7%
6%
0%
I have not purchased long term I purchased long term care I purchased long term I purchased long term
care insurance insurance sometime in the last care insurance sometime over care insurance sometime in the
6-10 years 10 years ago last 5 years
Nearly 4 out of every 5 respondents stated they believe they have not
purchased long term care, and 14% of the respondents purchased more
than 6 years ago.
4. How likely are you to consider a long term care insurance policy for….?
Top 2 Box - Likely Sample Size = 1073
Middle Box
Bottom 2 Box - Not Likely
13% 10%
29% 24%
16%
17%
22% 19%
43%
41%
38% 32%
Yourself Parent / In Law Spouse Your Children
Respondents are more likely to consider purchasing long term care
insurance for themselves and their spouse as compared to purchasing for
a parent / in law or their children.
5. Thinking about your possible long term care needs, do you think you could use any or
more information about long term care?
70%
66%
60%
50%
40%
34%
30%
20%
10%
0%
No Yes
Sample Size = 1073
Two thirds of respondents do not think they need any or more long term
care information.
.
6. Where would you go to learn about long term care?
Internet Search (Google) 40%
Insurance Company or Carrier Website 33%
Family/Friends 32%
Health Care Professional 28%
An Insurance Agent/Advisor Website 27%
Financial Services Professional such as Agent or Advisor 24%
Your Work Benefit Specialist 20%
Books/Pamphlets/Magazines 13%
An Association such as Alzheimer's 5%
Church/Community Group 5%
Wikipedia or Similar Website 5%
Facebook 3%
Blogs 2%
Phone Book 2%
Linkedin 1%
Sample Size = 1036
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
The top three places where respondents would / did learn about long term
Insert Insight.
care are an Internet Search, Insurance Company or Carrier Website and
Family and Friends.
7. For the average person, what would you say is about the right age to purchase long term care coverage?
Sample Size = 1073
35%
32%
30%
25%
25%
20%
16%
15%
11%
10%
8%
6%
5%
1%
0%
18-24 24-34 35-44 45-54 55-64 65-69 70 or older
Majority of the respondents feel long term care coverage should be
purchased between the ages of 45-64.
8. Since the financial crisis in 2008 have you…(check all that apply)
80%
68%
70%
60%
50%
40%
30%
20%
11% 10%
9%
10% 7%
0%
Question 41: Question 41: Created Question 41: Decided Question 41: Decided Question 41: None of
Increased the number a new, written to create a financial to create a financial the above
of times you have met financial plan plan yourself, but plan, but do not have
with a financial have not gotten a relationship with a
planner, advisor or around to it financial planner or
agent advisor
The majority have not decided to create a new plan or increased the
frequency with which they meet with a financial professional. Only 20%
have actually took action since the financial crisis in 2008.
9. What is included in in your retirement plan?
Reverse Mortgages 1%
I do not have a retirement plan 12%
Long Term Care Insurance 16%
Annuities 20%
CD’s 21%
Real Estate Holdings 23%
Stocks 31%
Mutual Funds 32%
Life Insurance 43%
IRA's 47%
Saving Accounts 53%
401K's 56%
0% 10% 20% 30% 40% 50% 60%
The top five products in respondent’s retirement plan are: 401K’s, Saving
Accounts, IRA’s, Life Insurance and Mutual Funds.
10. Which of the following are you considering adding more of or to your financial plan over the next two
years?
Reverse Mortgage 0%
Real Estate Holdings 5%
Annuities 6%
Long Term Care Insurance 7%
Life Insurance 8%
CD's 9%
Mutual Funds 10%
Stocks 12%
Savings Accounts 16%
IRA's 17%
401K's 21%
None of the above, I do not plan on adding anything 43%
0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%
Almost half do not plan on adding more of or to their financial plan in the
next two years.