We wanted to know why people purchased long-term care
insurance when they did. What was going on in their lives
at the time? Was there an event that triggered a buying
decision? We discovered two important reasons people
bought their policies when they did – they were either
getting ready to retire or they knew someone who had
experienced a long-term care situation.
Retirement – We found that either planning for retirement
or entering retirement was a primary motivator for most
people. Those nearing retirement seemed to know it was
time to start planning for the future.
“I was retiring and I felt it was time to do it.” per policyholder
First-hand Experience – We also discovered that many
people were influenced by a loved one who needed longterm care services. This first-hand experience with a longterm care situation made many people say, “I don’t want
that to happen to me.”
“I’m going through it with my mother right
now – trying to pay her bills and make sure her
money lasts as long as possible. It just gives me
peace of mind to know my kids won’t have to
take care of me.” per policyholder