With more than 8.1 million Americans protected by long-term care insurance coverage, there is no doubt it’s a product that appeals to baby boomers who don’t want to end up in a nursing home or be dependent on others. However, it’s not a fit for everyone. For example, most young married men would be better off focusing on building a nest egg and buying life insurance protection.
Just like individuals, not all businesses are ideal candidates to offer long-term care insurance either. A company with a significant amount of turnover, a low wage base, poor participation in other benefit programs or a large young male population is a good indicator that LTC Insurance is not a benefit that will be popular.
